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Condensed Consolidated Statements of Operations (USD $)
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3 Months Ended | |||||
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Mar. 31, 2015
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Mar. 31, 2014
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| OPERATING REVENUES: | ||||||
| Rental revenue | $ 2,622,327us-gaap_OperatingLeasesIncomeStatementLeaseRevenue | $ 1,495,636us-gaap_OperatingLeasesIncomeStatementLeaseRevenue | ||||
| Tenant recovery revenue | 3,397us-gaap_TenantReimbursements | |||||
| Total operating revenues | 2,625,724us-gaap_RealEstateRevenueNet | 1,495,636us-gaap_RealEstateRevenueNet | ||||
| OPERATING EXPENSES: | ||||||
| Depreciation and amortization | 791,632us-gaap_DepreciationDepletionAndAmortization | 288,031us-gaap_DepreciationDepletionAndAmortization | ||||
| Management fee | 295,748us-gaap_ManagementFeeExpense | [1] | 240,964us-gaap_ManagementFeeExpense | [1] | ||
| Administration fee | 130,936land_AdministrationFee | [1] | 66,158land_AdministrationFee | [1] | ||
| Professional fees | 166,908us-gaap_ProfessionalFees | 178,987us-gaap_ProfessionalFees | ||||
| Acquisition-related expenses | 170,680us-gaap_BusinessCombinationAcquisitionRelatedCosts | 43,412us-gaap_BusinessCombinationAcquisitionRelatedCosts | ||||
| Property operating expenses | 205,766us-gaap_CostOfOtherPropertyOperatingExpense | 65,585us-gaap_CostOfOtherPropertyOperatingExpense | ||||
| General and administrative expenses | 230,446us-gaap_GeneralAndAdministrativeExpense | 217,315us-gaap_GeneralAndAdministrativeExpense | ||||
| Operating expenses before credits from Adviser | 1,992,116land_OperatingExpensesBeforeCreditToIncentiveFee | 1,100,452land_OperatingExpensesBeforeCreditToIncentiveFee | ||||
| Credits to fees from Adviser | (320,905)land_RelatedPartyTransactionCreditFromVoluntaryIrrevocable | [1] | ||||
| Total operating expenses, net of credits to fees | 1,671,211land_OperatingExpensesNetOfCreditToIncentiveFee | 1,100,452land_OperatingExpensesNetOfCreditToIncentiveFee | ||||
| OPERATING INCOME | 954,513us-gaap_OperatingIncomeLoss | 395,184us-gaap_OperatingIncomeLoss | ||||
| OTHER INCOME (EXPENSE): | ||||||
| Other income | 19,430us-gaap_OtherNonoperatingIncome | 6,397us-gaap_OtherNonoperatingIncome | ||||
| Interest expense | (949,369)us-gaap_InterestExpense | (374,040)us-gaap_InterestExpense | ||||
| Total other expense | (929,939)us-gaap_NonoperatingIncomeExpense | (367,643)us-gaap_NonoperatingIncomeExpense | ||||
| Net income before income taxes | 24,574us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest | 27,541us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest | ||||
| Income tax provision | (6,623)us-gaap_IncomeTaxExpenseBenefit | |||||
| NET INCOME | $ 24,574us-gaap_NetIncomeLoss | $ 20,918us-gaap_NetIncomeLoss | ||||
| EARNINGS PER COMMON SHARE: | ||||||
| Basic and diluted | $ 0.00us-gaap_EarningsPerShareBasicAndDiluted | $ 0.00us-gaap_EarningsPerShareBasicAndDiluted | ||||
| WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING - basic and diluted | 7,753,717us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted | 6,530,264us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted | ||||
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| X | ||||||||||
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- Definition
Administration fee. No definition available.
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| X | ||||||||||
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- Definition
Operating expenses before credit to incentive fee. No definition available.
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| X | ||||||||||
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- Definition
Operating expenses net of credit to incentive fee. No definition available.
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| X | ||||||||||
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- Definition
Related party transaction credit from voluntary irrevocable. No definition available.
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| X | ||||||||||
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- Definition
This element represents acquisition-related costs incurred to effect a business combination which costs have been expensed during the period. Such costs include finder's fees; advisory, legal, accounting, valuation, and other professional or consulting fees; general administrative costs, including the costs of maintaining an internal acquisitions department; and may include costs of registering and issuing debt and equity securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Other operating costs incurred during the reporting period and may include amounts paid to maintain the property. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. No definition available.
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| X | ||||||||||
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- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of expenses related to the managing member or general partner for management of the day-to-day business functions of the limited liability company (LLC) or limited partnership (LP). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
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| X | ||||||||||
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- Definition
The total amount of revenue recognized for the period from operating leases, including minimum lease revenue, contingent revenue, percentage revenue and sublease revenue. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate amount of other income amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) profits on securities (net of losses), and (d) miscellaneous other income items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate revenue from real estate operations during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
In accordance with the provisions of their lease agreement, this element represents allowable charges due a landlord from its tenant. In retail store and office building leases, for example, tenant reimbursements may cover items such as taxes, utilities, and common area expenses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). No definition available.
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