FRP (FRPH) 10-Q9 Nov 232023 Q3 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	3 Months Ended
Cover - shares	Sep. 30, 2023	Nov. 09, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2023
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Entity File Number	001-36769
Entity Registrant Name	FRP HOLDINGS, INC.
Entity Central Index Key	0000844059
Entity Tax Identification Number	47-2449198
Entity Incorporation, State or Country Code	FL
Entity Address, Address Line One	200 W. Forsyth St.
Entity Address, Address Line Two	7th Floor
Entity Address, City or Town	Jacksonville
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	32202
City Area Code	904
Local Phone Number	396-5733
Title of 12(b) Security	Common Stock, $.10 par value
Trading Symbol	FRPH
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		9,477,104

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Real estate investments at cost:
Land	$ 141,578	$ 141,579
Buildings and improvements	282,379	270,579
Projects under construction	4,689	12,208
Total investments in properties	428,646	424,366
Less accumulated depreciation and depletion	65,444	57,208
Net investments in properties	363,202	367,158
Real estate held for investment, at cost	10,510	10,182
Investments in joint ventures	154,025	140,525
Net real estate investments	527,737	517,865
Cash and cash equivalents	166,028	177,497
Cash held in escrow	646	797
Accounts receivable, net	1,683	1,166
Unrealized rents	1,452	856
Deferred costs	3,028	2,343
Other assets	583	560
Total assets	701,157	701,084
Liabilities:
Secured notes payable	178,668	178,557
Accounts payable and accrued liabilities	3,689	5,971
Other liabilities	1,886	1,886
Federal and state income taxes payable	704	18
Deferred revenue	1,029	259
Deferred income taxes	67,903	67,960
Deferred compensation	1,395	1,354
Tenant security deposits	889	868
Total liabilities	256,163	256,873
Commitments and contingencies
Equity:
Common stock, $.10 par value 25,000,000 shares authorized, 9,477,104 and 9,459,686 shares issued and outstanding, respectively	948	946
Capital in excess of par value	67,168	65,158
Retained earnings	343,002	342,317
Accumulated other comprehensive loss, net	(328)	(1,276)
Total shareholders’ equity	410,790	407,145
Noncontrolling interest	34,204	37,066
Total equity	444,994	444,211
Total liabilities and equity	$ 701,157	$ 701,084

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.10	$ 0.10
Common stock, shares authorized	25,000,000	25,000,000
Common stock, outstanding	9,477,104	9,459,686
Common stock, issued	9,477,104	9,459,686

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenues:
Lease revenue	$ 7,509	$ 6,823	$ 21,773	$ 19,850
Mining lands lease revenue	3,082	2,471	9,628	7,779
Total Revenues	10,591	9,294	31,401	27,629
Cost of operations:
Depreciation, depletion and amortization	2,816	2,744	8,415	8,510
Operating expenses	2,012	1,967	5,574	5,316
Property taxes	919	1,034	2,745	3,103
Management company indirect	1,059	966	2,938	2,545
Corporate expenses (Note 4 Related Party)	889	734	3,212	2,876
Total cost of operations	7,695	7,445	22,884	22,350
Total operating profit	2,896	1,849	8,517	5,279
Net investment income	2,700	1,188	8,207	3,206
Interest expense	(1,116)	(738)	(3,251)	(2,215)
Equity in loss of joint ventures	(2,913)	(1,878)	(10,585)	(5,248)
Gain (loss) on sale of real estate	(1)	141	7	874
Income before income taxes	1,566	562	2,895	1,896
Provision for income taxes	467	178	898	526
Net income	1,099	384	1,997	1,370
Loss attributable to noncontrolling interest	(160)	(96)	(425)	(439)
Net income attributable to the Company	$ 1,259	$ 480	$ 2,422	$ 1,809
Earnings per common share:
Basic	$ 0.13	$ 0.05	$ 0.26	$ 0.19
Diluted	$ 0.13	$ 0.05	$ 0.26	$ 0.19
Number of shares (in thousands) used in computing:
-basic earnings per common share	9,423	9,397	9,423	9,382
-diluted earnings per common share	9,460	9,433	9,463	9,423

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Net income	$ 1,099	$ 384	$ 1,997	$ 1,370
Other comprehensive income (loss) net of tax:
Unrealized gain/(loss) on investments, net of income tax effect of $145, $(120), $360 and $(568)	392	(324)	972	(1,533)
Minimum pension liability, net of income tax effect of $(3), $0, $(8) and $0	(8)	0	(24)	0
Comprehensive income (loss)	1,483	60	2,945	(163)
Less comp. income (loss) attributable to Noncontrolling interest	(160)	(96)	(425)	(439)
Comprehensive income attributable to the Company	$ 1,643	$ 156	$ 3,370	$ 276

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Income tax effect on UR loss	$ 145	$ (120)	$ 360	$ (568)
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, Tax	$ (3)	$ 0	$ (8)	$ 0

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Cash flows from operating activities:
Net income	$ 1,099	$ 384	$ 1,997	$ 1,370
Adjustments to reconcile net income to net cash provided by continuing operating activities:
Depreciation, depletion and amortization			8,557	8,696
Deferred income taxes			(57)	133
Equity in loss of joint ventures	2,913	1,878	10,585	5,248
Gain on sale of equipment and property			(14)	(901)
Stock-based compensation	271	276	1,472	1,302
Net changes in operating assets and liabilities:
Accounts receivable			(517)	(737)
Deferred costs and other assets			(538)	(2,160)
Accounts payable and accrued liabilities			(1,512)	(1,440)
Income taxes payable and receivable			686	1,559
Other long-term liabilities			62	105
Net cash provided by operating activities			20,721	13,175
Cash flows from investing activities:
Investments in properties	(2,449)	(8,726)	(4,634)	(26,137)
Investments in joint ventures			(31,648)	(20,838)
Return of capital from investments in joint ventures			7,559	13,327
Proceeds from sales of investments available for sale			0	4,317
Proceeds from the sale of assets			16	952
Cash held in escrow			151	170
Net cash used in investing activities			(28,556)	(28,209)
Cash flows from financing activities:
Distribution to noncontrolling interest			(2,437)	(1,937)
Repurchase of company stock			(2,000)	0
Exercise of employee stock options			803	233
Net cash used in financing activities			(3,634)	(1,704)
Net decrease in cash and cash equivalents			(11,469)	(16,738)
Cash and cash equivalents at beginning of year			177,497	161,521	$ 161,521
Cash and cash equivalents at end of the period	$ 166,028	$ 144,783	166,028	144,783	$ 177,497
Supplemental disclosure of cash flow information:
Interest			3,248	2,212
Income taxes			$ 622	$ (1,734)

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Parent [Member]	Noncontrolling Interest [Member]	Total
Beginning balance, value at Dec. 31, 2021	$ 941	$ 57,617	$ 337,752	$ 113	$ 396,423	$ 28,827	$ 425,250
Common shares outstanding at Dec. 31, 2021	9,411,028
Stock option grant compensation	$ 0	52	0	0	52	0	52
Restricted stock compensation	0	550	0	0	550	0	550
Net income	0	0	1,809	0	1,809	(439)	1,370
Distributions to partners	0	0	0	0	0	(1,937)	(1,937)
Minimum pension liability, net							0
Unrealized loss on investment, net	0	0	0	(1,533)	(1,533)	0	(1,533)
Exercise of stock options	$ 1	232	0	0	233	0	233
Stock options exercised	11,870
Shares granted to Employees	$ 0	50	0	0	50	0	50
Shares granted to Employee	865
Restricted stock award	$ 2	(2)	0	0	0	0	0
Restricted shares awarded	21,464
Shares granted to Directors	$ 1	649	0	0	650	0	650
Director shares granted	11,232
Forfeiture of restricted stock award	$ 0	0	0	0	0	0	0
Restricted stock forfeited	(1,363)
Ending balance, value at Sep. 30, 2022	$ 945	59,148	339,561	(1,420)	398,234	26,451	424,685
Common shares outstanding at Sep. 30, 2022	9,455,096
Beginning balance, value at Dec. 31, 2021	$ 941	57,617	337,752	113	396,423	28,827	425,250
Common shares outstanding at Dec. 31, 2021	9,411,028
Ending balance, value at Dec. 31, 2022	$ 946	65,158	342,317	(1,276)	407,145	37,066	$ 444,211
Common shares outstanding at Dec. 31, 2022	9,459,686						9,459,686
Beginning balance, value at Jun. 30, 2022	$ 945	58,872	339,081	(1,096)	397,802	27,135	$ 424,937
Common shares outstanding at Jun. 30, 2022	9,455,096
Stock option grant compensation	$ 0	18	0	0	18	0	18
Restricted stock compensation	0	258	0	0	258	0	258
Net income	0	0	480	0	480	(96)	384
Distributions to partners	0	0	0	0	0	(588)	(588)
Minimum pension liability, net							0
Unrealized loss on investment, net	0	0	0	(324)	(324)	0	(324)
Ending balance, value at Sep. 30, 2022	$ 945	59,148	339,561	(1,420)	398,234	26,451	424,685
Common shares outstanding at Sep. 30, 2022	9,455,096
Beginning balance, value at Dec. 31, 2022	$ 946	65,158	342,317	(1,276)	407,145	37,066	$ 444,211
Common shares outstanding at Dec. 31, 2022	9,459,686						9,459,686
Stock option grant compensation	$ 0	49	0	0	49	0	$ 49
Restricted stock compensation	0	773	0	0	773	0	773
Shares purchased and cancelled	$ (3)	(260)	(1,737)	0	(2,000)	0	(2,000)
Stock Repurchased During Period, Shares	(36,909)
Net income	$ 0	0	2,422	0	2,422	(425)	1,997
Distributions to partners	0	0	0	0	0	(2,437)	(2,437)
Minimum pension liability, net	0	0	0	(24)	(24)	0	(24)
Unrealized loss on investment, net	0	0	0	972	972	0	972
Exercise of stock options	$ 2	801	0	0	803	0	803
Stock options exercised	17,735
Shares granted to Employees	$ 0	50	0	0	50	0	50
Shares granted to Employee	928
Restricted stock award	$ 2	(2)	0	0	0	0	0
Restricted shares awarded	25,284
Shares granted to Directors	$ 1	599	0	0	600	0	600
Director shares granted	10,380
Ending balance, value at Sep. 30, 2023	$ 948	67,168	343,002	(328)	410,790	34,204	$ 444,994
Common shares outstanding at Sep. 30, 2023	9,477,104						9,477,104
Beginning balance, value at Jun. 30, 2023	$ 950	67,028	342,610	(712)	409,876	35,116	$ 444,992
Common shares outstanding at Jun. 30, 2023	9,495,673
Stock option grant compensation	$ 0	16	0	0	16	0	16
Restricted stock compensation	0	255	0	0	255	0	255
Shares purchased and cancelled	$ (2)	(131)	(867)	0	(1,000)	0	(1,000)
Stock Repurchased During Period, Shares	(18,569)
Net income	$ 0	0	1,259	0	1,259	(160)	1,099
Distributions to partners	0	0	0	0	0	(752)	(752)
Minimum pension liability, net	0	0	0	(8)	(8)	0	(8)
Unrealized loss on investment, net	0	0	0	392	392	0	392
Ending balance, value at Sep. 30, 2023	$ 948	$ 67,168	$ 343,002	$ (328)	$ 410,790	$ 34,204	$ 444,994
Common shares outstanding at Sep. 30, 2023	9,477,104						9,477,104

Description of Business and Bas

Description of Business and Basis of Presentation	3 Months Ended
Description of Business and Basis of Presentation	Sep. 30, 2023
Accounting Policies [Abstract]
Description of Business and Basis of Presentation	(1) Description of Business and Basis of Presentation FRP Holdings, Inc. is a holding company engaged in the investment and development of real estate , namely (i) leasing and management of industrial and commercial properties owned by The Company, (ii) leasing and management of mining royalty land owned by The Company, (iii) real property acquisition, entitlement, development and construction primarily for apartment, retail, warehouse, and office, (iv) management of mixed use residential/retail properties owned through our joint ventures. The accompanying consolidated financial statements include the accounts of FRP Holdings, Inc. (the “Company” or “FRP”) inclusive of our operating real estate subsidiaries, FRP Development Corp. (“Development”), Florida Rock Properties, Inc. (“Properties”), Riverfront Investment Partners I, LLC, and Riverfront Investment Partners II, LLC. Our investments accounted for under the equity method of accounting are detailed in Note 11. Our ownership of Riverfront Investment Partners I, LLC and Riverfront Investment Partners II, LLC includes a non-controlling interest representing the ownership of our partner. These statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and the instructions to Form 10-Q and do not include all the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, all adjustments (primarily consisting of normal recurring accruals) considered necessary for a fair statement of the results for the interim periods have been included. Operating results for the nine months ended September 30, 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. The accompanying consolidated financial statements and the information included under the heading "Management's Discussion and Analysis of Financial Condition and Results of Operations" should be read in conjunction with the Company's consolidated financial statements and related notes included in the Company’s Form 10-K for the year ended December 31, 2022.

Recently Issued Accounting Stan

Recently Issued Accounting Standards	3 Months Ended
Recently Issued Accounting Standards	Sep. 30, 2023
Accounting Changes and Error Corrections [Abstract]
Recently Issued Accounting Standards	(2) Recently Issued Accounting Standards In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016 - 13, "Financial Instruments - Credit Losses," which introduced new guidance for an approach based on expected losses to estimate credit losses on certain types of financial instruments. This standard was effective for the Company as of January 1, 2023. There was no impact on our financial statements at adoption.

Business Segments

Business Segments	3 Months Ended
Business Segments	Sep. 30, 2023
Segment Reporting [Abstract]
Business Segments	(3) Business Segments The Company is reporting its financial performance based on four The Asset Management Segment owns, leases and manages in-service commercial properties wholly owned by the Company. Currently this includes nine two two Our Mining Royalty Lands segment owns several properties totaling approximately 16,650 4,280 Through our Development segment, we own and are continuously assessing the highest and best use of several parcels of land that are in various stages of development. Our overall strategy in this segment is to convert all of our non-income producing lands into income production through (i) an orderly process of constructing new buildings for us to own and operate or (ii) a sale to, or joint venture with, third parties. Additionally, our Development segment will form joint ventures on new developments of land not previously owned by the Company. The Stabilized Joint Venture segment includes joint ventures which own, lease and manage buildings that have met our initial lease-up criteria. Two Operating results and certain other financial data for the Company’s business segments Three Months ended Nine months ended September 30, September 30, 2023 2022 2023 2022 Revenues: Revenues Asset management $ 1,442 935 3,932 2,686 Revenues Mining royalty lands 3,082 2,471 9,628 7,779 Revenues Development 434 412 1,387 1,203 Revenues Stabilized Joint Venture 5,633 5,476 16,454 15,961 Revenues 10,591 9,294 31,401 27,629 Operating profit (loss): Before corporate expenses: Operating profit before corporate expenses Asset management $ 697 392 1,855 1,103 Operating profit before corporate expenses Mining royalty lands 2,608 2,083 8,391 6,764 Operating profit before corporate expenses Development (444 ) (865 ) (1,377 ) (2,164 ) Operating profit before corporate expenses Stabilized Joint Venture 924 973 2,860 2,452 Operating profit before corporate expenses Operating profit before corporate expenses 3,785 2,583 11,729 8,155 Corporate expenses: Corporate expenses Allocated to asset management (177 ) (127 ) (630 ) (496 ) Corporate expenses Allocated to mining royalty lands (99 ) (83 ) (360 ) (325 ) Corporate expenses Allocated to development (529 ) (457 ) (1,918 ) (1,794 ) Corporate expenses Allocated to stabilized joint venture (84 ) (67 ) (304 ) (261 ) Corporate expenses Total corporate expenses (889 ) (734 ) (3,212 ) (2,876 ) Operating profit $ 2,896 1,849 8,517 5,279 Interest expense Interest expense $ 1,116 738 3,251 2,215 Depreciation, depletion and amortization: Depreciation, depletion and amortization Asset management $ 369 219 1,006 683 Depreciation, depletion and amortization Mining royalty lands 138 172 472 416 Depreciation, depletion and amortization Development 44 47 140 139 Depreciation, depletion and amortization Stabilized Joint Venture 2,265 2,306 6,797 7,272 Depreciation, depletion and amortization $ 2,816 2,744 8,415 8,510 Capital expenditures: Capital expenditures Asset management $ 12 202 557 797 Capital expenditures Mining royalty lands — 1 — 11,218 Capital expenditures Development 2,179 8,548 3,640 13,927 Capital expenditures Stabilized Joint Venture 258 (25 ) 437 195 Capital expenditures $ 2,449 8,726 4,634 26,137 Identifiable net assets September 30, December 31, Identifiable net assets 2023 2022 Assets Asset management $ 39,155 26,053 Assets Mining royalty lands 48,126 48,494 Assets Development 194,297 188,834 Assets Stabilized Joint Venture 251,677 257,535 Cash Cash items 166,674 178,294 Assets Unallocated corporate assets 1,228 1,874 Assets $ 701,157 701,084

Related Party Transactions

Related Party Transactions	3 Months Ended
Related Party Transactions	Sep. 30, 2023
Related Party Transactions [Abstract]
Related Party Transactions	(4) Related Party Transactions The Company is a party to an Administrative Services Agreement which resulted from our January 30, 2015 spin-off of Patriot Transportation Holding, Inc. (Patriot). The Administrative Services Agreement sets forth the terms on which Patriot will provide to FRP certain services that were shared prior to the Spin-off, including the services of certain shared executive officers. The boards of the respective companies amended and extended this agreement for one year effective April 1, 2023. The consolidated statements of income reflect charges and/or allocation from Patriot for these services of $ 236,000 223,000 687,000 670,000 To determine these allocations between FRP and Patriot as set forth in the Administrative Services Agreement, we employ an allocation method to allocate said expenses and thus we believe that the allocations to FRP are a reasonable approximation of the costs related to FRP’s operations, but any such related-party transactions cannot be presumed to be carried out on an arm’s-length basis.

Long-Term Debt

Long-Term Debt	3 Months Ended
Long-Term Debt	Sep. 30, 2023
Debt Disclosure [Abstract]
Long-Term Debt	(5) Long-Term Debt The Company’s Outstanding debt September 30, December 31, 2023 2022 Fixed rate mortgage loans, 3.03 $ 180,070 180,070 Unamortized debt issuance costs (1,402 ) (1,513 ) Credit agreement — — Long term debt $ 178,668 178,557 On February 6, 2019, the Company entered into a First Amendment to the 2015 Credit Agreement (the “Credit Agreement”) with Wells Fargo Bank, N.A. (“Wells Fargo”), effective February 6, 2019. The Credit Agreement modifies the Company’s prior Credit Agreement with Wells Fargo dated January 30, 2015. The Credit Agreement establishes a five 20 million 1.50 1.25 1.0 .75 1.5 0.25 0.20 0.15 Company meets a specified ratio of consolidated total debt to consolidated total capital. The Credit Agreement contains certain conditions, affirmative financial covenants and negative covenants. As of September 30, 2023, there was no 823,000 19,177,000 1 6.1 249 million On March 19, 2021, the Company refinanced Dock 79 and The Maren pursuant to separate Loan Agreements and Deed of Trust Notes entered into with Teachers Insurance and Annuity Association of America, LLC. Dock 79 and The Maren borrowed principal sums of $ 92,070,000 88,000,000 3.03 Either loan may be prepaid subsequent to April 1, 2024, subject to yield maintenance premiums. Either loan may be transferred to a qualified buyer as part of a one-time sale subject to a 60% loan to value, minimum of 7.5% debt yield and a 0.75% transfer fee Debt cost amortization of $ 37,000 111,000 297,000 673,000 986,000 2,019,000 The Company was in compliance with all

Earnings per Share

Earnings per Share	3 Months Ended
Earnings per Share	Sep. 30, 2023
Earnings per common share:
Earnings per Share	(6) Earnings per Share The following details the computations of the Basic and diluted earnings per common share Three Months ended Nine months ended September 30, September 30, 2023 2022 2023 2022 Weighted average common shares outstanding during the period – shares used for basic earnings per common share 9,423 9,397 9,423 9,382 Common shares issuable under share based payment plans which are potentially dilutive 37 36 40 41 Common shares used for diluted earnings per common share 9,460 9,433 9,463 9,423 Net income attributable to the Company $ 1,259 480 2,422 1,809 Earnings per common share: -basic $ 0.13 0.05 0.26 0.19 -diluted $ 0.13 0.05 0.26 0.19 For the three and nine months ended September 30, 2023, the Company did not have any d id not have any During the first nine months of 2023 the Company repurchased 36,909 54.19

Stock-Based Compensation Plans

Stock-Based Compensation Plans	3 Months Ended
Stock-Based Compensation Plans	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation Plans	(7) Stock-Based Compensation Plans The Company has two ten exercisable immediately or become exercisable in cumulative installments of 20% or 25% at the end of each year following the date of grant The Company utilizes the Black-Scholes valuation model for estimating fair value of stock compensation for options awarded to officers and employees. Each grant is evaluated based upon assumptions at the time of grant. The assumptions were no 31.5 41.2 2.0 2.9 5.0 7.0 The dividend yield of zero In January 2023, 7,980 four 15,032 five 2,272 7,448 four 14,016 five 928 865 343,677 The Company recorded the following Stock compensation expense Three Months ended Nine months ended September 30, September 30, 2023 2022 2023 2022 Stock option grants $ 16 18 49 52 Restricted stock awards 255 258 773 550 Employee stock grant — — 50 50 Annual director stock award — — 600 650 Stock compensation $ 271 276 1,472 1,302 A Summary of changes in outstanding options Weighted Weighted Weighted Number Average Average Average Of Exercise Remaining Grant Date Options Shares Price Term (yrs) Fair Value(000's) Outstanding at January 1, 2023 88,295 $ 40.33 4.4 $ 1,271 Exercised (17,735 ) $ 45.27 $ (190 ) Outstanding at September 30, 2023 70,560 $ 39.09 3.3 $ 1,081 Exercisable at September 30, 2023 66,570 $ 38.68 3.2 $ 1,015 Vested during nine months ended September 30, 2023 — $ — The aggregate intrinsic value of exercisable in-the-money options was $ 1,018,000 1,050,000 53.97 The unrecognized compensation cost of options granted to FRP employees but not yet vested as of September 30, 2023 was $ 11,000 two A Summary of changes in restricted stock awards Weighted Weighted Weighted Number Average Average Average Of Grant Date Remaining Grant Date Restricted stock Shares Fair Value Term (yrs) Fair Value(000's) Non-vested at January 1, 2023 50,496 $ 50.42 3.0 $ 2,546 Time-based awards granted 7,980 53.86 430 Performance-based awards granted 17,304 53.92 933 Vested (6,211 ) 46.49 (289 ) Non-vested at September 30, 2023 69,569 $ 52.03 2.8 $ 3,620 Total unrecognized compensation cost of restricted stock granted but not yet vested as of September 30, 2023 was $ 2,725,000 3.1 years

Contingent Liabilities

Contingent Liabilities	3 Months Ended
Contingent Liabilities	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Contingent Liabilities	(8) Contingent Liabilities The Company may be involved in litigation on a number of matters and is subject to certain claims which arise in the normal course of business. The Company has retained certain self-insurance risks with respect to losses for third party liability and property damage. In the opinion of management, none of these matters are expected to have a material adverse effect on the Company’s consolidated financial condition, results of operations or cash flows. The Company is subject to numerous environmental laws and regulations. The Company believes that the ultimate disposition of currently known environmental matters will not have a material effect on its financial position, liquidity, or operations. The Company can give no assurance that previous environmental studies with respect to its properties have revealed all potential environmental contaminants; that any previous owner, occupant or tenant did not create any material environmental condition not known to the Company; that the current environmental condition of the properties will not be affected by tenants and occupants, by the condition of nearby properties, or by unrelated third parties; and that changes in applicable environmental laws and regulations or their interpretation will not result in additional environmental liability to the Company. As of September 30, 2023, there was $ 823,000 The Company and MidAtlantic Realty Partners (MRP) guaranteed $ 26 million 1 1.9 million 1 48 48 1.9 million

Concentrations

Concentrations	3 Months Ended
Concentrations	Sep. 30, 2023
Risks and Uncertainties [Abstract]
Concentrations	(9) Concentrations The mining royalty lands segment has a total of five 24.6 502,000

Fair Value Measurements

Fair Value Measurements	3 Months Ended
Fair Value Measurements	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	(10) Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. Level 1 means the use of quoted prices in active markets for identical assets or liabilities. Level 2 means the use of values that are derived principally from or corroborated by observable market data. Level 3 means the use of inputs are those that are unobservable and significant to the overall fair value measurement. At September 30, 2023, the Company was invested in U.S. Treasury notes valued at $ 148,768,000 571,000 At September 30, 2023 and December 31, 2022, the carrying amount reported in the consolidated balance sheets for cash and cash equivalents including U.S. Treasury notes was adjusted to fair value as described above. The fair values of the Company’s other mortgage notes payable were estimated based on current rates available to the Company for debt of the same remaining maturities. At September 30, 2023, the carrying amount and fair value of such other long-term debt was $ 180,070,000 136,928,000 180,070,000 142,753,000

Investments in Joint Ventures

Investments in Joint Ventures	3 Months Ended
Investments in Joint Ventures	Sep. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]
Investments in Joint Ventures	(11) Investments in Joint Ventures The Company has investments in joint ventures, primarily with other real estate developers. Joint ventures where FRP is not the primary beneficiary are reflected in the line “Investment in joint ventures” on the balance sheet and “Equity in loss of joint ventures” on the income statement. The assets of these joint ventures are restricted to use by the joint ventures and their obligations can only be settled by their assets or additional contributions by the partners. The following table summarizes the Company’s Investments in unconsolidated joint ventures The Company's Share of Profit Common Total Total Assets of Profit (Loss) (Loss) of the Ownership Investment The Partnership Of the Partnership Partnership As of September 30, 2023 Brooksville Quarry, LLC 50.00 % $ 7,486 14,372 (62 ) (31 ) BC FRP Realty, LLC 50.00 % 5,077 22,164 (556 ) (278 ) Buzzard Point Sponsor, LLC 50.00 % 2,292 4,584 — — Bryant Street Partnerships 61.36 % 61,140 195,915 (7,876 ) (4,931 ) Lending ventures 25,084 14,428 — — Estero Partnership 16.00 % 3,600 38,703 — — Verge Partnership 61.37 % 37,535 130,978 (7,161 ) (4,395 ) Greenville Partnerships 40.00 % 11,811 98,617 (2,376 ) (950 ) Total $ 154,025 519,761 (18,031 ) (10,585 ) The Company's Share of Profit Common Total Total Assets of Profit (Loss) (Loss) of the Ownership Investment The Partnership Of the Partnership Partnership As of December 31, 2022 Brooksville Quarry, LLC 50.00 % $ 7,522 14,374 (84 ) (42 ) BC FRP Realty, LLC 50.00 % 5,453 21,825 (358 ) (175 ) Buzzard Point Sponsor, LLC 50.00 % 1,453 2,906 — — Bryant Street Partnerships 61.36 % 55,561 199,774 (10,339 ) (6,829 ) Lending ventures 16,476 5,577 — — DST Hickory Creek 26.65 % — — 10,960 3,164 Estero Partnership 16.00 % 3,600 38,505 — — Verge Partnership 61.37 % 38,471 131,128 (1,841 ) (1,129 ) Greenville Partnerships 40.00 % 11,989 96,551 (1,775 ) (710 ) Total $ 140,525 510,640 (3,437 ) (5,721 ) The major classes of assets, liabilities and equity of the Company’s Investments in Joint Ventures as of September 30, 2023 are summarized in the following two tables (in thousands): Investments in Apartment/Mixed-use as of September 30, 2023 As of September 30, 2023 Total Buzzard Point Bryant Street Estero Verge Greenville Apartment/ Sponsor, LLC Partnership Partnership Partnership Partnership Mixed-Use Investments in real estate, net $ 0 187,693 34,416 129,145 96,834 $ 448,088 Cash and cash equivalents 0 1,661 4,287 1,170 1,595 8,713 Unrealized rents & receivables 0 6,141 0 309 83 6,533 Deferred costs 4,584 420 0 354 105 5,463 Total Assets $ 4,584 195,915 38,703 130,978 98,617 $ 468,797 Secured notes payable $ 0 116,922 16,000 72,402 67,414 $ 272,738 Other liabilities 0 2,786 174 1,102 2,243 6,305 Capital - FRP 2,292 59,132 3,605 35,261 10,858 111,148 Capital – Third Parties 2,292 17,075 18,924 22,213 18,102 78,606 Total Liabilities and Capital $ 4,584 195,915 38,703 130,978 98,617 $ 468,797 Investments in Joint Ventures as of September 30, 2023 As of September 30, 2023 Total Brooksville BC FRP Lending Apartment/ Grand Quarry, LLC Realty, LLC Ventures Mixed-Use Total Investments in real estate, net $ 14,343 21,260 14,428 448,088 $ 498,119 Cash and cash equivalents 27 74 0 8,713 8,814 Unrealized rents & receivables 0 457 0 6,533 6,990 Deferred costs 2 373 0 5,463 5,838 Total Assets $ 14,372 22,164 14,428 468,797 $ 519,761 Secured notes payable $ 0 11,856 (10,656 ) 272,738 $ 273,938 Other liabilities 64 266 0 6,305 6,635 Capital – FRP 7,487 5,021 25,084 111,148 148,740 Capital - Third Parties 6,821 5,021 0 78,606 90,448 Total Liabilities and Capital $ 14,372 22,164 14,428 468,797 $ 519,761 The Company’s capital recorded by the unconsolidated Joint Ventures is $ 5,285,000 The major classes of assets, liabilities and equity of the Company’s Investments in Joint Ventures as of December 31, 2022 are summarized in the following two tables (in thousands): Investments in Apartment/Mixed-use as of December 31, 2022 As of December 31, 2022 Total Buzzard Point Bryant Street Estero Verge Greenville Apartment/ Sponsor, LLC Partnership Partnership Partnership Partnership Mixed-Use Investments in real estate, net $ 0 192,904 33,008 130,616 95,883 $ 452,411 Cash and cash equivalents 0 1,349 5,497 359 567 7,772 Unrealized rents & receivables 0 5,128 0 14 13 5,155 Deferred costs 2,906 393 0 139 88 3,526 Total Assets $ 2,906 199,774 38,505 131,128 96,551 $ 468,864 Secured notes payable $ 0 129,263 16,000 66,584 64,954 $ 276,801 Other liabilities 0 2,338 5 5,328 3,014 10,685 Capital - FRP 1,453 53,553 3,600 36,348 11,087 106,041 Capital – Third Parties 1,453 14,620 18,900 22,868 17,496 75,337 Total Liabilities and Capital $ 2,906 199,774 38,505 131,128 96,551 $ 468,864 Investments in Joint Ventures as of December 31, 2022 As of December 31, 2022 Total Brooksville BC FRP Lending Apartment/ Grand Quarry, LLC Realty, LLC Ventures Mixed-Use Total Investments in real estate, net $ 14,307 21,059 5,547 452,411 $ 493,324 Cash and cash equivalents 66 99 0 7,772 7,937 Unrealized rents & receivables 0 422 0 5,155 5,577 Deferred costs 1 245 30 3,526 3,802 Total Assets $ 14,374 21,825 5,577 468,864 $ 510,640 Secured notes payable $ 0 10,899 (10,899 ) 276,801 $ 276,801 Other liabilities 0 338 0 10,685 11,023 Capital – FRP 7,522 5,294 16,476 106,041 135,333 Capital - Third Parties 6,852 5,294 0 75,337 87,483 Total Liabilities and Capital $ 14,374 21,825 5,577 468,864 $ 510,640 The amount of consolidated retained earnings (accumulated deficit) for these joint ventures was $ (20,837,000) (13,115,000) The income statements of the Bryant Street Partnerships Bryant Street Bryant Street Bryant Street Bryant Street Partnerships Partnerships Partnerships Partnerships Total JV Total JV Company Share Company Share Nine months ended Nine months ended Nine months ended Nine months ended September 30, September 30, September 30, September 30, 2023 2022 2023 2022 Revenues: Rental Revenue $ 9,322 $ 6,718 $ 5,720 $ 4,123 Revenue – other 1,784 1,306 1,095 801 Total Revenues 11,106 8,024 6,815 4,924 Cost of operations: Depreciation and amortization 5,202 4,995 3,192 3,065 Operating expenses 4,384 3,846 2,690 2,360 Property taxes 789 878 484 539 Total cost of operations 10,375 9,719 6,366 5,964 Total operating profit/(loss) 731 (1,695 ) 449 (1,040 ) Interest expense (8,607 ) (5,437 ) (5,380 ) (3,703 ) Net loss before tax $ (7,876 ) $ (7,132 ) $ (4,931 ) $ (4,743 ) The income statements of the Greenville Partnerships Greenville Greenville Greenville Greenville Partnerships Partnerships Partnerships Partnerships Total JV Total JV Company Share Company Share Nine months ended Nine months ended Nine months ended Nine months ended September 30, September 30, September 30, September 30, 2023 2022 2023 2022 Revenues: Rental Revenue $ 4,875 $ 2,234 $ 1,950 $ 894 Revenue – other 405 125 162 50 Total Revenues 5,280 2,359 2,112 944 Cost of operations: Depreciation and amortization 2,118 1,162 847 465 Operating expenses 1,784 906 714 363 Property taxes 882 476 353 190 Total cost of operations 4,784 2,544 1,914 1,018 Total operating profit/(loss) 496 (185 ) 198 (74 ) Interest expense (2,872 ) (697 ) (1,148 ) (279 ) Net loss before tax $ (2,376 ) $ (882 ) $ (950 ) $ (353 ) The income statements of the Verge Partnership Verge Verge Partnership Partnership Total JV Company Share Nine months ended Nine months ended September 30, September 30, 2023 2023 Revenues: Rental Revenue $ 2,042 $ 1,254 Revenue – other 320 196 Total Revenues 2,362 1,450 Cost of operations: Depreciation and amortization 2,958 1,815 Operating expenses 2,057 1,263 Property taxes 741 455 Total cost of operations 5,756 3,533 Total operating profit (3,394 ) (2,083 ) Interest expense (3,767 ) (2,312 ) Net profit before tax $ (7,161 ) $ (4,395 )

Business Segments (Tables)

Business Segments (Tables)	3 Months Ended
Business Segments (Tables)	Sep. 30, 2023
Segment Reporting [Abstract]
business segments	Operating results and certain other financial data for the Company’s business segments Three Months ended Nine months ended September 30, September 30, 2023 2022 2023 2022 Revenues: Revenues Asset management $ 1,442 935 3,932 2,686 Revenues Mining royalty lands 3,082 2,471 9,628 7,779 Revenues Development 434 412 1,387 1,203 Revenues Stabilized Joint Venture 5,633 5,476 16,454 15,961 Revenues 10,591 9,294 31,401 27,629 Operating profit (loss): Before corporate expenses: Operating profit before corporate expenses Asset management $ 697 392 1,855 1,103 Operating profit before corporate expenses Mining royalty lands 2,608 2,083 8,391 6,764 Operating profit before corporate expenses Development (444 ) (865 ) (1,377 ) (2,164 ) Operating profit before corporate expenses Stabilized Joint Venture 924 973 2,860 2,452 Operating profit before corporate expenses Operating profit before corporate expenses 3,785 2,583 11,729 8,155 Corporate expenses: Corporate expenses Allocated to asset management (177 ) (127 ) (630 ) (496 ) Corporate expenses Allocated to mining royalty lands (99 ) (83 ) (360 ) (325 ) Corporate expenses Allocated to development (529 ) (457 ) (1,918 ) (1,794 ) Corporate expenses Allocated to stabilized joint venture (84 ) (67 ) (304 ) (261 ) Corporate expenses Total corporate expenses (889 ) (734 ) (3,212 ) (2,876 ) Operating profit $ 2,896 1,849 8,517 5,279 Interest expense Interest expense $ 1,116 738 3,251 2,215 Depreciation, depletion and amortization: Depreciation, depletion and amortization Asset management $ 369 219 1,006 683 Depreciation, depletion and amortization Mining royalty lands 138 172 472 416 Depreciation, depletion and amortization Development 44 47 140 139 Depreciation, depletion and amortization Stabilized Joint Venture 2,265 2,306 6,797 7,272 Depreciation, depletion and amortization $ 2,816 2,744 8,415 8,510 Capital expenditures: Capital expenditures Asset management $ 12 202 557 797 Capital expenditures Mining royalty lands — 1 — 11,218 Capital expenditures Development 2,179 8,548 3,640 13,927 Capital expenditures Stabilized Joint Venture 258 (25 ) 437 195 Capital expenditures $ 2,449 8,726 4,634 26,137
Identifiable net assets	Identifiable net assets September 30, December 31, Identifiable net assets 2023 2022 Assets Asset management $ 39,155 26,053 Assets Mining royalty lands 48,126 48,494 Assets Development 194,297 188,834 Assets Stabilized Joint Venture 251,677 257,535 Cash Cash items 166,674 178,294 Assets Unallocated corporate assets 1,228 1,874 Assets $ 701,157 701,084

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
Long-Term Debt (Tables)	Sep. 30, 2023
Debt Disclosure [Abstract]
Outstanding debt	The Company’s Outstanding debt September 30, December 31, 2023 2022 Fixed rate mortgage loans, 3.03 $ 180,070 180,070 Unamortized debt issuance costs (1,402 ) (1,513 ) Credit agreement — — Long term debt $ 178,668 178,557

Earnings per Share (Tables)

Earnings per Share (Tables)	3 Months Ended
Earnings per Share (Tables)	Sep. 30, 2023
Earnings per common share:
Basic and diluted earnings per common share	The following details the computations of the Basic and diluted earnings per common share Three Months ended Nine months ended September 30, September 30, 2023 2022 2023 2022 Weighted average common shares outstanding during the period – shares used for basic earnings per common share 9,423 9,397 9,423 9,382 Common shares issuable under share based payment plans which are potentially dilutive 37 36 40 41 Common shares used for diluted earnings per common share 9,460 9,433 9,463 9,423 Net income attributable to the Company $ 1,259 480 2,422 1,809 Earnings per common share: -basic $ 0.13 0.05 0.26 0.19 -diluted $ 0.13 0.05 0.26 0.19

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	3 Months Ended
Stock-Based Compensation Plans (Tables)	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock compensation expense	The Company recorded the following Stock compensation expense Three Months ended Nine months ended September 30, September 30, 2023 2022 2023 2022 Stock option grants $ 16 18 49 52 Restricted stock awards 255 258 773 550 Employee stock grant — — 50 50 Annual director stock award — — 600 650 Stock compensation $ 271 276 1,472 1,302
Summary of changes in outstanding options	A Summary of changes in outstanding options Weighted Weighted Weighted Number Average Average Average Of Exercise Remaining Grant Date Options Shares Price Term (yrs) Fair Value(000's) Outstanding at January 1, 2023 88,295 $ 40.33 4.4 $ 1,271 Exercised (17,735 ) $ 45.27 $ (190 ) Outstanding at September 30, 2023 70,560 $ 39.09 3.3 $ 1,081 Exercisable at September 30, 2023 66,570 $ 38.68 3.2 $ 1,015 Vested during nine months ended September 30, 2023 — $ —
Summary of changes in restricted stock awards	A Summary of changes in restricted stock awards Weighted Weighted Weighted Number Average Average Average Of Grant Date Remaining Grant Date Restricted stock Shares Fair Value Term (yrs) Fair Value(000's) Non-vested at January 1, 2023 50,496 $ 50.42 3.0 $ 2,546 Time-based awards granted 7,980 53.86 430 Performance-based awards granted 17,304 53.92 933 Vested (6,211 ) 46.49 (289 ) Non-vested at September 30, 2023 69,569 $ 52.03 2.8 $ 3,620

Investments in Joint Ventures (

Investments in Joint Ventures (Tables)	3 Months Ended
Investments in Joint Ventures (Tables)	Sep. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]
Investments in unconsolidated joint ventures	The following table summarizes the Company’s Investments in unconsolidated joint ventures The Company's Share of Profit Common Total Total Assets of Profit (Loss) (Loss) of the Ownership Investment The Partnership Of the Partnership Partnership As of September 30, 2023 Brooksville Quarry, LLC 50.00 % $ 7,486 14,372 (62 ) (31 ) BC FRP Realty, LLC 50.00 % 5,077 22,164 (556 ) (278 ) Buzzard Point Sponsor, LLC 50.00 % 2,292 4,584 — — Bryant Street Partnerships 61.36 % 61,140 195,915 (7,876 ) (4,931 ) Lending ventures 25,084 14,428 — — Estero Partnership 16.00 % 3,600 38,703 — — Verge Partnership 61.37 % 37,535 130,978 (7,161 ) (4,395 ) Greenville Partnerships 40.00 % 11,811 98,617 (2,376 ) (950 ) Total $ 154,025 519,761 (18,031 ) (10,585 ) The Company's Share of Profit Common Total Total Assets of Profit (Loss) (Loss) of the Ownership Investment The Partnership Of the Partnership Partnership As of December 31, 2022 Brooksville Quarry, LLC 50.00 % $ 7,522 14,374 (84 ) (42 ) BC FRP Realty, LLC 50.00 % 5,453 21,825 (358 ) (175 ) Buzzard Point Sponsor, LLC 50.00 % 1,453 2,906 — — Bryant Street Partnerships 61.36 % 55,561 199,774 (10,339 ) (6,829 ) Lending ventures 16,476 5,577 — — DST Hickory Creek 26.65 % — — 10,960 3,164 Estero Partnership 16.00 % 3,600 38,505 — — Verge Partnership 61.37 % 38,471 131,128 (1,841 ) (1,129 ) Greenville Partnerships 40.00 % 11,989 96,551 (1,775 ) (710 ) Total $ 140,525 510,640 (3,437 ) (5,721 )
Investments in Apartment/Mixed-use as of September 30, 2023	The major classes of assets, liabilities and equity of the Company’s Investments in Joint Ventures as of September 30, 2023 are summarized in the following two tables (in thousands): Investments in Apartment/Mixed-use as of September 30, 2023 As of September 30, 2023 Total Buzzard Point Bryant Street Estero Verge Greenville Apartment/ Sponsor, LLC Partnership Partnership Partnership Partnership Mixed-Use Investments in real estate, net $ 0 187,693 34,416 129,145 96,834 $ 448,088 Cash and cash equivalents 0 1,661 4,287 1,170 1,595 8,713 Unrealized rents & receivables 0 6,141 0 309 83 6,533 Deferred costs 4,584 420 0 354 105 5,463 Total Assets $ 4,584 195,915 38,703 130,978 98,617 $ 468,797 Secured notes payable $ 0 116,922 16,000 72,402 67,414 $ 272,738 Other liabilities 0 2,786 174 1,102 2,243 6,305 Capital - FRP 2,292 59,132 3,605 35,261 10,858 111,148 Capital – Third Parties 2,292 17,075 18,924 22,213 18,102 78,606 Total Liabilities and Capital $ 4,584 195,915 38,703 130,978 98,617 $ 468,797
Investments in Joint Ventures as of September 30, 2023	Investments in Joint Ventures as of September 30, 2023 As of September 30, 2023 Total Brooksville BC FRP Lending Apartment/ Grand Quarry, LLC Realty, LLC Ventures Mixed-Use Total Investments in real estate, net $ 14,343 21,260 14,428 448,088 $ 498,119 Cash and cash equivalents 27 74 0 8,713 8,814 Unrealized rents & receivables 0 457 0 6,533 6,990 Deferred costs 2 373 0 5,463 5,838 Total Assets $ 14,372 22,164 14,428 468,797 $ 519,761 Secured notes payable $ 0 11,856 (10,656 ) 272,738 $ 273,938 Other liabilities 64 266 0 6,305 6,635 Capital – FRP 7,487 5,021 25,084 111,148 148,740 Capital - Third Parties 6,821 5,021 0 78,606 90,448 Total Liabilities and Capital $ 14,372 22,164 14,428 468,797 $ 519,761
Investments in Apartment/Mixed-use as of December 31, 2022	The major classes of assets, liabilities and equity of the Company’s Investments in Joint Ventures as of December 31, 2022 are summarized in the following two tables (in thousands): Investments in Apartment/Mixed-use as of December 31, 2022 As of December 31, 2022 Total Buzzard Point Bryant Street Estero Verge Greenville Apartment/ Sponsor, LLC Partnership Partnership Partnership Partnership Mixed-Use Investments in real estate, net $ 0 192,904 33,008 130,616 95,883 $ 452,411 Cash and cash equivalents 0 1,349 5,497 359 567 7,772 Unrealized rents & receivables 0 5,128 0 14 13 5,155 Deferred costs 2,906 393 0 139 88 3,526 Total Assets $ 2,906 199,774 38,505 131,128 96,551 $ 468,864 Secured notes payable $ 0 129,263 16,000 66,584 64,954 $ 276,801 Other liabilities 0 2,338 5 5,328 3,014 10,685 Capital - FRP 1,453 53,553 3,600 36,348 11,087 106,041 Capital – Third Parties 1,453 14,620 18,900 22,868 17,496 75,337 Total Liabilities and Capital $ 2,906 199,774 38,505 131,128 96,551 $ 468,864
Investments in Joint Ventures as of December 31, 2022	Investments in Joint Ventures as of December 31, 2022 As of December 31, 2022 Total Brooksville BC FRP Lending Apartment/ Grand Quarry, LLC Realty, LLC Ventures Mixed-Use Total Investments in real estate, net $ 14,307 21,059 5,547 452,411 $ 493,324 Cash and cash equivalents 66 99 0 7,772 7,937 Unrealized rents & receivables 0 422 0 5,155 5,577 Deferred costs 1 245 30 3,526 3,802 Total Assets $ 14,374 21,825 5,577 468,864 $ 510,640 Secured notes payable $ 0 10,899 (10,899 ) 276,801 $ 276,801 Other liabilities 0 338 0 10,685 11,023 Capital – FRP 7,522 5,294 16,476 106,041 135,333 Capital - Third Parties 6,852 5,294 0 75,337 87,483 Total Liabilities and Capital $ 14,374 21,825 5,577 468,864 $ 510,640
Bryant Street Partnerships	The income statements of the Bryant Street Partnerships Bryant Street Bryant Street Bryant Street Bryant Street Partnerships Partnerships Partnerships Partnerships Total JV Total JV Company Share Company Share Nine months ended Nine months ended Nine months ended Nine months ended September 30, September 30, September 30, September 30, 2023 2022 2023 2022 Revenues: Rental Revenue $ 9,322 $ 6,718 $ 5,720 $ 4,123 Revenue – other 1,784 1,306 1,095 801 Total Revenues 11,106 8,024 6,815 4,924 Cost of operations: Depreciation and amortization 5,202 4,995 3,192 3,065 Operating expenses 4,384 3,846 2,690 2,360 Property taxes 789 878 484 539 Total cost of operations 10,375 9,719 6,366 5,964 Total operating profit/(loss) 731 (1,695 ) 449 (1,040 ) Interest expense (8,607 ) (5,437 ) (5,380 ) (3,703 ) Net loss before tax $ (7,876 ) $ (7,132 ) $ (4,931 ) $ (4,743 )
Greenville Partnerships	The income statements of the Greenville Partnerships Greenville Greenville Greenville Greenville Partnerships Partnerships Partnerships Partnerships Total JV Total JV Company Share Company Share Nine months ended Nine months ended Nine months ended Nine months ended September 30, September 30, September 30, September 30, 2023 2022 2023 2022 Revenues: Rental Revenue $ 4,875 $ 2,234 $ 1,950 $ 894 Revenue – other 405 125 162 50 Total Revenues 5,280 2,359 2,112 944 Cost of operations: Depreciation and amortization 2,118 1,162 847 465 Operating expenses 1,784 906 714 363 Property taxes 882 476 353 190 Total cost of operations 4,784 2,544 1,914 1,018 Total operating profit/(loss) 496 (185 ) 198 (74 ) Interest expense (2,872 ) (697 ) (1,148 ) (279 ) Net loss before tax $ (2,376 ) $ (882 ) $ (950 ) $ (353 )
Verge Partnership	The income statements of the Verge Partnership Verge Verge Partnership Partnership Total JV Company Share Nine months ended Nine months ended September 30, September 30, 2023 2023 Revenues: Rental Revenue $ 2,042 $ 1,254 Revenue – other 320 196 Total Revenues 2,362 1,450 Cost of operations: Depreciation and amortization 2,958 1,815 Operating expenses 2,057 1,263 Property taxes 741 455 Total cost of operations 5,756 3,533 Total operating profit (3,394 ) (2,083 ) Interest expense (3,767 ) (2,312 ) Net profit before tax $ (7,161 ) $ (4,395 )

business segments (Details)

business segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
business segments (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Revenues	$ 10,591	$ 9,294	$ 31,401	$ 27,629
Operating profit before corporate expenses	3,785	2,583	11,729	8,155
Corporate expenses	(889)	(734)	(3,212)	(2,876)
Operating profit	2,896	1,849	8,517	5,279
Interest expense	1,116	738	3,251	2,215
Depreciation, depletion and amortization			8,557	8,696
Capital expenditures	2,449	8,726	4,634	26,137
Asset Management [Member]
Segment Reporting Information [Line Items]
Revenues	1,442	935	3,932	2,686
Operating profit before corporate expenses	697	392	1,855	1,103
Corporate expenses	(177)	(127)	(630)	(496)
Depreciation, depletion and amortization	369	219	1,006	683
Capital expenditures	12	202	557	797
Mining Properties [Member]
Segment Reporting Information [Line Items]
Revenues	3,082	2,471	9,628	7,779
Operating profit before corporate expenses	2,608	2,083	8,391	6,764
Corporate expenses	(99)	(83)	(360)	(325)
Depreciation, depletion and amortization	138	172	472	416
Capital expenditures	0	1	0	11,218
Development [Member]
Segment Reporting Information [Line Items]
Revenues	434	412	1,387	1,203
Operating profit before corporate expenses	(444)	(865)	(1,377)	(2,164)
Corporate expenses	(529)	(457)	(1,918)	(1,794)
Depreciation, depletion and amortization	44	47	140	139
Capital expenditures	2,179	8,548	3,640	13,927
Stabilized Joint Venture [Member]
Segment Reporting Information [Line Items]
Revenues	5,633	5,476	16,454	15,961
Operating profit before corporate expenses	924	973	2,860	2,452
Corporate expenses	(84)	(67)	(304)	(261)
Depreciation, depletion and amortization	2,265	2,306	6,797	7,272
Capital expenditures	258	(25)	437	195
Total Segments [Member]
Segment Reporting Information [Line Items]
Depreciation, depletion and amortization	$ 2,816	$ 2,744	$ 8,415	$ 8,510

Identifiable net assets (Detail

Identifiable net assets (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Assets	$ 701,157	$ 701,084
Cash	166,674	178,294
Asset Management [Member]
Segment Reporting Information [Line Items]
Assets	39,155	26,053
Mining Properties [Member]
Segment Reporting Information [Line Items]
Assets	48,126	48,494
Development [Member]
Segment Reporting Information [Line Items]
Assets	194,297	188,834
Stabilized Joint Venture [Member]
Segment Reporting Information [Line Items]
Assets	251,677	257,535
Unallocated Corporate Assets [Member]
Segment Reporting Information [Line Items]
Assets	$ 1,228	$ 1,874

Business Segments (Details Narr

Business Segments (Details Narrative)	9 Months Ended
Business Segments (Details Narrative)	Sep. 30, 2023 a segment integer
Segment Reporting Information [Line Items]
Number of reportable segments \| segment	4
Warehouses	9
Business parks	2
Ground leases	2
Mining acres \| a	16,650
Consolidated joint ventures	2
Brooksville Joint Venture [Member]
Segment Reporting Information [Line Items]
Mining acres \| a	4,280

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
Related Party Transactions (Details Narrative) - USD ($)	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Related Party Transactions [Abstract]
Related party allocation	$ 236,000	$ 223,000	$ 687,000	$ 670,000

Outstanding debt (Details)

Outstanding debt (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Fixed rate mortgage loans, 3.03% interest only, matures 4/1/2033	$ 180,070	$ 180,070
Unamortized debt issuance costs	(1,402)	(1,513)
Credit agreement	0	0
Long term debt	$ 178,668	$ 178,557
Mortgages [Member]
Debt Instrument [Line Items]
Interest rate	3.03%	3.03%

Long-Term Debt (Details Narrati

Long-Term Debt (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended	9 Months Ended		12 Months Ended
Long-Term Debt (Details Narrative) - USD ($)	Mar. 31, 2021	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2023	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2019	Dec. 31, 2022	Mar. 19, 2021	Feb. 06, 2019
Line of Credit Facility [Line Items]
Outstanding letters of credit		$ 823,000			$ 823,000
Principal sum		178,668,000			178,668,000			$ 178,557,000
Debt cost amortization		37,000	$ 37,000		111,000	$ 111,000
Capitalized interest costs		$ 297,000	$ 673,000		$ 986,000	$ 2,019,000
Dock 79 Loan [Member]
Line of Credit Facility [Line Items]
Principal sum									$ 92,070,000
Fixed interest rate									3.03%
Debt description	Either loan may be prepaid subsequent to April 1, 2024, subject to yield maintenance premiums. Either loan may be transferred to a qualified buyer as part of a one-time sale subject to a 60% loan to value, minimum of 7.5% debt yield and a 0.75% transfer fee
Maren [Member]
Line of Credit Facility [Line Items]
Principal sum									$ 88,000,000
Fixed interest rate									3.03%
Debt description	Either loan may be prepaid subsequent to April 1, 2024, subject to yield maintenance premiums. Either loan may be transferred to a qualified buyer as part of a one-time sale subject to a 60% loan to value, minimum of 7.5% debt yield and a 0.75% transfer fee
Wells Fargo Level I [Member]
Line of Credit Facility [Line Items]
Interest rate spread				1.50%
Commitment fee					0.25%
Wells Fargo Level I I [Member]
Line of Credit Facility [Line Items]
Interest rate spread		0.75%		1.25%
Commitment fee					0.20%
Wells Fargo Level I I I [Member]
Line of Credit Facility [Line Items]
Interest rate spread		1.50%		1%
Commitment fee					0.15%
Wells Fargo [Member]
Line of Credit Facility [Line Items]
Revolver term							5 years
Maximum facility amount										$ 20,000,000
Outstanding revolver		$ 0			$ 0
Outstanding letters of credit		823,000			823,000
Available for borrowing		$ 19,177,000			$ 19,177,000
Letter of credit fee					1%
Applicable interest rate		6.10%			6.10%
Dividend limit		$ 249,000,000			$ 249,000,000
Covenant compliance					all

Basic and diluted earnings per

Basic and diluted earnings per common share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings per common share:
Weighted average common shares outstanding during the period – shares used for basic earnings per common share	9,423	9,397	9,423	9,382
Common shares issuable under share based payment plans which are potentially dilutive	37	36	40	41
Common shares used for diluted earnings per common share	9,460	9,433	9,463	9,423
Net income attributable to the Company	$ 1,259	$ 480	$ 2,422	$ 1,809
-basic	$ 0.13	$ 0.05	$ 0.26	$ 0.19
-diluted	$ 0.13	$ 0.05	$ 0.26	$ 0.19

Earnings per Share (Details Nar

Earnings per Share (Details Narrative) - $ / shares	3 Months Ended		9 Months Ended
Earnings per Share (Details Narrative) - $ / shares	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings per common share:
Antidilutive shares	0	0	0	0
Shares repurchased			36,909
Average cost of shares repurchased			$ 54.19

Stock compensation expense (Det

Stock compensation expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock compensation	$ 271	$ 276	$ 1,472	$ 1,302
Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock compensation	16	18	49	52
Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock compensation	255	258	773	550
Employee Grant [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock compensation	0	0	50	50
Director Stock Award [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock compensation	$ 0	$ 0	$ 600	$ 650

Summary of changes in outstandi

Summary of changes in outstanding options (Details) - Share-Based Payment Arrangement, Option [Member] - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Outstanding options, shares	70,560	88,295
Outstanding options, weighted average exercise price	$ 39.09	$ 40.33
Outstanding remaining term	3 years 3 months 19 days	4 years 4 months 24 days
Options outstanding, weighted average fair value	$ 1,081	$ 1,271
Options exercised, shares	(17,735)
Options exercised, weighted avg exercise price	$ 45.27
Options exercised, weighted avg grant date fair value	$ (190)
Options exercisable, shares	66,570
Exercisable, weighted average exercise price	$ 38.68
Exercisable remaining term	3 years 2 months 13 days
Exercisable, weighted average fair value	$ 1,015
Options vested, shares	0
Vested, weighted average fair value	$ 0

Summary of changes in restricte

Summary of changes in restricted stock awards (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		3 Months Ended		9 Months Ended	12 Months Ended
	Mar. 31, 2023	Jan. 31, 2023	Mar. 31, 2023	Mar. 31, 2022	Sep. 30, 2023	Dec. 31, 2022
Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Restricted stock					69,569	50,496
Restricted stock					$ 52.03	$ 50.42
Restricted stock					2 years 9 months 18 days	3 years
Restricted stock					$ 3,620	$ 2,546
Restricted stock, vested					(6,211)
Restricted stock					$ 46.49
Restricted stock					$ (289)
Time Based Awards Granted [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Restricted stock			7,980	7,448	7,980
Restricted stock					$ 53.86
Restricted stock					$ 430
Performance Based Awards Granted [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Restricted stock	2,272	15,032		14,016	17,304
Restricted stock					$ 53.92
Restricted stock					$ 933

Stock-Based Compensation Plan_2

Stock-Based Compensation Plans (Details Narrative)	1 Months Ended		3 Months Ended		9 Months Ended
Stock-Based Compensation Plans (Details Narrative)	Mar. 31, 2023 shares	Jan. 31, 2023 shares	Mar. 31, 2023 shares	Mar. 31, 2022 shares	Sep. 30, 2023 USD ($) integer shares	Sep. 29, 2023 $ / shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of plans \| integer					2
Expiration period					10 years
Vesting rights					exercisable immediately or become exercisable in cumulative installments of 20% or 25% at the end of each year following the date of grant
Dividend yield					0%
Minimum volatility					31.50%
Maximum volatility					41.20%
Risk-free interest rate minimum					2%
Risk-free interest rate maximum					2.90%
Expected life minimum					3 years
Expected life maximum					7 years
Shares available \| shares					343,677
Intrinsic value \| $					$ 1,018,000
Intrinsic value \| $					$ 1,050,000
Closing price \| $ / shares						$ 53.97
Time Based Awards Granted [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Restricted grants \| shares			7,980	7,448	7,980
Vesting period			4 years	4 years
Performance Based Awards Granted [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Restricted grants \| shares	2,272	15,032		14,016	17,304
Vesting period			5 years	5 years
Employee Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock grants \| shares			928	865
Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation cost \| $					$ 11,000
Recognition period					2 months
Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation cost \| $					$ 2,725,000
Recognition period					3 years 1 month 5 days

Contingent Liabilities (Details

Contingent Liabilities (Details Narrative)	9 Months Ended
Contingent Liabilities (Details Narrative)	Sep. 30, 2023 USD ($)
Guarantor Obligations [Line Items]
Outstanding letters of credit	$ 823,000
Guarantee Obligations [Member]
Guarantor Obligations [Line Items]
Guarantee obligation	$ 26,000,000
Interest rate decrease	1%
Value of guarantee	$ 1,900,000
Term in months	48

Concentrations (Details Narrati

Concentrations (Details Narrative)	9 Months Ended
Concentrations (Details Narrative)	Sep. 30, 2023 USD ($) integer	Dec. 31, 2022 USD ($)
Concentration Risk [Line Items]
Number of mining tenants \| integer	5
Accounts receivable	$ 1,683,000	$ 1,166,000
Mining Top Customer [Member]
Concentration Risk [Line Items]
Top lessee rent percent of revenue	24.60%
Accounts receivable	$ 502,000

Fair Value Measurements (Detail

Fair Value Measurements (Details Narrative) - USD ($)	Sep. 30, 2023	Sep. 30, 2022
Fair Value Disclosures [Abstract]
US Treasury notes value	$ 148,768,000
Unrealized loss on investments	571,000
Carrying amount of mortgage notes payable	180,070,000	$ 180,070,000
FV of mortgage notes payable	$ 136,928,000	$ 142,753,000

Investments in unconsolidated j

Investments in unconsolidated joint ventures (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Total investments	$ 154,025		$ 154,025		$ 140,525
Total assets of the partnership	701,157		701,157		701,084
Profit (loss) of the partnership	1,099	$ 384	1,997	$ 1,370
Share of profit (loss) of the partnership	(2,913)	$ (1,878)	(10,585)	$ (5,248)
Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total assets of the partnership	$ 519,761		519,761		510,640
Profit (loss) of the partnership			(18,031)		(3,437)
Real Estate Partnership Net Income Loss [Member]
Schedule of Equity Method Investments [Line Items]
Share of profit (loss) of the partnership			$ (10,585)		$ (5,721)
Brooksville Quarry L L C [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	50%		50%		50%
Total investments	$ 7,486		$ 7,486		$ 7,522
Profit (loss) of the partnership			(62)		(84)
Share of profit (loss) of the partnership			(31)		(42)
Brooksville Quarry L L C [Member] \| Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total assets of the partnership	$ 14,372		$ 14,372		$ 14,374
B C F R P Realty L L C [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	50%		50%		50%
Total investments	$ 5,077		$ 5,077		$ 5,453
Profit (loss) of the partnership			(556)		(358)
Share of profit (loss) of the partnership			(278)		(175)
B C F R P Realty L L C [Member] \| Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total assets of the partnership	$ 22,164		$ 22,164		$ 21,825
Buzzard Point Sponsor Partnership [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	50%		50%		50%
Total investments	$ 2,292		$ 2,292		$ 1,453
Profit (loss) of the partnership			0		0
Share of profit (loss) of the partnership			0		0
Buzzard Point Sponsor Partnership [Member] \| Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total assets of the partnership	$ 4,584		$ 4,584		$ 2,906
Bryant Street Partnerships [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	61.36%		61.36%		61.36%
Total investments	$ 61,140		$ 61,140		$ 55,561
Profit (loss) of the partnership			(7,876)		(10,339)
Share of profit (loss) of the partnership			(4,931)		(6,829)
Bryant Street Partnerships [Member] \| Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total assets of the partnership	195,915		195,915		199,774
Lending Ventures [Member]
Schedule of Equity Method Investments [Line Items]
Total investments	25,084		25,084		16,476
Profit (loss) of the partnership			0		0
Share of profit (loss) of the partnership			0		0
Lending Ventures [Member] \| Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total assets of the partnership	$ 14,428		$ 14,428		$ 5,577
Estero Partnership [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	16%		16%		16%
Total investments	$ 3,600		$ 3,600		$ 3,600
Profit (loss) of the partnership			0		0
Estero Partnership [Member] \| Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total assets of the partnership	$ 38,703		$ 38,703		$ 38,505
Verge [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	61.37%		61.37%		61.37%
Total investments	$ 37,535		$ 37,535		$ 38,471
Profit (loss) of the partnership			(7,161)		(1,841)
Share of profit (loss) of the partnership			(4,395)		(1,129)
Verge [Member] \| Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total assets of the partnership	$ 130,978		$ 130,978		$ 131,128
Greenville Partnerships [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	40%		40%		40%
Total investments	$ 11,811		$ 11,811		$ 11,989
Profit (loss) of the partnership			(2,376)		(1,775)
Share of profit (loss) of the partnership			(950)		(710)
Greenville Partnerships [Member] \| Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total assets of the partnership	$ 98,617		$ 98,617		$ 96,551
D S T Hickory Creek [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage					26.65%
Total investments					$ 0
Profit (loss) of the partnership					10,960
Share of profit (loss) of the partnership					3,164
D S T Hickory Creek [Member] \| Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total assets of the partnership					$ 0

Investments in Apartment_Mixed-

Investments in Apartment/Mixed-use as of September 30, 2023 (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	$ 498,119	$ 493,324
Cash and cash equivalents	8,814	7,937
Unrealized rents & receivables	6,990	5,577
Deferred costs	5,838	3,802
Total Assets	701,157	701,084
Secured notes payable	273,938	276,801
Other liabilities	6,635	11,023
Capital – Third Parties	410,790	407,145
Total Liabilities and Capital	701,157	701,084
Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	519,761	510,640
Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	148,740	135,333
Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	90,448	87,483
Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	519,761	510,640
Buzzard Point Sponsor Partnership [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	0	0
Cash and cash equivalents	0	0
Unrealized rents & receivables	0	0
Deferred costs	4,584	2,906
Secured notes payable	0	0
Other liabilities	0	0
Buzzard Point Sponsor Partnership [Member] \| Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	4,584	2,906
Buzzard Point Sponsor Partnership [Member] \| Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	2,292	1,453
Buzzard Point Sponsor Partnership [Member] \| Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	2,292	1,453
Buzzard Point Sponsor Partnership [Member] \| Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	4,584	2,906
Bryant Street Partnerships [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	187,693	192,904
Cash and cash equivalents	1,661	1,349
Unrealized rents & receivables	6,141	5,128
Deferred costs	420	393
Secured notes payable	116,922	129,263
Other liabilities	2,786	2,338
Bryant Street Partnerships [Member] \| Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	195,915	199,774
Bryant Street Partnerships [Member] \| Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	59,132	53,553
Bryant Street Partnerships [Member] \| Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	17,075	14,620
Bryant Street Partnerships [Member] \| Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	195,915	199,774
Estero Partnership [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	34,416	33,008
Cash and cash equivalents	4,287	5,497
Unrealized rents & receivables	0	0
Deferred costs	0	0
Secured notes payable	16,000	16,000
Other liabilities	174	5
Estero Partnership [Member] \| Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	38,703	38,505
Estero Partnership [Member] \| Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	3,605	3,600
Estero Partnership [Member] \| Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	18,924	18,900
Estero Partnership [Member] \| Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	38,703	38,505
Verge [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	129,145	130,616
Cash and cash equivalents	1,170	359
Unrealized rents & receivables	309	14
Deferred costs	354	139
Secured notes payable	72,402	66,584
Other liabilities	1,102	5,328
Verge [Member] \| Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	130,978	131,128
Verge [Member] \| Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	35,261	36,348
Verge [Member] \| Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	22,213	22,868
Verge [Member] \| Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	130,978	131,128
Greenville Partnerships [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	96,834	95,883
Cash and cash equivalents	1,595	567
Unrealized rents & receivables	83	13
Deferred costs	105	88
Secured notes payable	67,414	64,954
Other liabilities	2,243	3,014
Greenville Partnerships [Member] \| Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	98,617	96,551
Greenville Partnerships [Member] \| Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	10,858	11,087
Greenville Partnerships [Member] \| Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	18,102	17,496
Greenville Partnerships [Member] \| Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	98,617	96,551
Apartment Mixed Use [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	448,088	452,411
Cash and cash equivalents	8,713	7,772
Unrealized rents & receivables	6,533	5,155
Deferred costs	5,463	3,526
Secured notes payable	272,738	276,801
Other liabilities	6,305	10,685
Apartment Mixed Use [Member] \| Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	468,797	468,864
Apartment Mixed Use [Member] \| Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	111,148	106,041
Apartment Mixed Use [Member] \| Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	78,606	75,337
Apartment Mixed Use [Member] \| Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	$ 468,797	$ 468,864

Investments in Joint Ventures a

Investments in Joint Ventures as of September 30, 2023 (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	$ 498,119	$ 493,324
Cash and cash equivalents	8,814	7,937
Unrealized rents & receivables	6,990	5,577
Deferred costs	5,838	3,802
Total Assets	701,157	701,084
Secured notes payable	273,938	276,801
Other liabilities	6,635	11,023
Capital - Third Parties	410,790	407,145
Total Liabilities and Capital	701,157	701,084
Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	519,761	510,640
Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital – FRP	148,740	135,333
Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital - Third Parties	90,448	87,483
Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	519,761	510,640
Brooksville Quarry L L C [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	14,343	14,307
Cash and cash equivalents	27	66
Unrealized rents & receivables	0	0
Deferred costs	2	1
Secured notes payable	0	0
Other liabilities	64	0
Brooksville Quarry L L C [Member] \| Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	14,372	14,374
Brooksville Quarry L L C [Member] \| Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital – FRP	7,487	7,522
Brooksville Quarry L L C [Member] \| Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital - Third Parties	6,821	6,852
Brooksville Quarry L L C [Member] \| Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	14,372	14,374
B C F R P Realty L L C [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	21,260	21,059
Cash and cash equivalents	74	99
Unrealized rents & receivables	457	422
Deferred costs	373	245
Secured notes payable	11,856	10,899
Other liabilities	266	338
B C F R P Realty L L C [Member] \| Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	22,164	21,825
B C F R P Realty L L C [Member] \| Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital – FRP	5,021	5,294
B C F R P Realty L L C [Member] \| Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital - Third Parties	5,021	5,294
B C F R P Realty L L C [Member] \| Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	22,164	21,825
Lending Ventures [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	14,428	5,547
Cash and cash equivalents	0	0
Unrealized rents & receivables	0	0
Deferred costs	0	30
Secured notes payable	(10,656)	(10,899)
Other liabilities	0	0
Lending Ventures [Member] \| Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	14,428	5,577
Lending Ventures [Member] \| Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital – FRP	25,084	16,476
Lending Ventures [Member] \| Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital - Third Parties	0	0
Lending Ventures [Member] \| Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	14,428	5,577
Apartment Mixed Use [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	448,088	452,411
Cash and cash equivalents	8,713	7,772
Unrealized rents & receivables	6,533	5,155
Deferred costs	5,463	3,526
Secured notes payable	272,738	276,801
Other liabilities	6,305	10,685
Apartment Mixed Use [Member] \| Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	468,797	468,864
Apartment Mixed Use [Member] \| Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital – FRP	111,148	106,041
Apartment Mixed Use [Member] \| Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital - Third Parties	78,606	75,337
Apartment Mixed Use [Member] \| Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	$ 468,797	$ 468,864

Investments in Apartment_Mixe_2

Investments in Apartment/Mixed-use as of December 31, 2022 (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	$ 498,119	$ 493,324
Cash and cash equivalents	8,814	7,937
Unrealized rents & receivables	6,990	5,577
Deferred costs	5,838	3,802
Total Assets	701,157	701,084
Secured notes payable	273,938	276,801
Other liabilities	6,635	11,023
Capital – Third Parties	410,790	407,145
Total Liabilities and Capital	701,157	701,084
Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	519,761	510,640
Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	148,740	135,333
Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	90,448	87,483
Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	519,761	510,640
Buzzard Point Sponsor Partnership [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	0	0
Cash and cash equivalents	0	0
Unrealized rents & receivables	0	0
Deferred costs	4,584	2,906
Secured notes payable	0	0
Other liabilities	0	0
Buzzard Point Sponsor Partnership [Member] \| Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	4,584	2,906
Buzzard Point Sponsor Partnership [Member] \| Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	2,292	1,453
Buzzard Point Sponsor Partnership [Member] \| Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	2,292	1,453
Buzzard Point Sponsor Partnership [Member] \| Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	4,584	2,906
Bryant Street Partnerships [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	187,693	192,904
Cash and cash equivalents	1,661	1,349
Unrealized rents & receivables	6,141	5,128
Deferred costs	420	393
Secured notes payable	116,922	129,263
Other liabilities	2,786	2,338
Bryant Street Partnerships [Member] \| Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	195,915	199,774
Bryant Street Partnerships [Member] \| Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	59,132	53,553
Bryant Street Partnerships [Member] \| Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	17,075	14,620
Bryant Street Partnerships [Member] \| Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	195,915	199,774
Estero Partnership [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	34,416	33,008
Cash and cash equivalents	4,287	5,497
Unrealized rents & receivables	0	0
Deferred costs	0	0
Secured notes payable	16,000	16,000
Other liabilities	174	5
Estero Partnership [Member] \| Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	38,703	38,505
Estero Partnership [Member] \| Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	3,605	3,600
Estero Partnership [Member] \| Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	18,924	18,900
Estero Partnership [Member] \| Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	38,703	38,505
Verge [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	129,145	130,616
Cash and cash equivalents	1,170	359
Unrealized rents & receivables	309	14
Deferred costs	354	139
Secured notes payable	72,402	66,584
Other liabilities	1,102	5,328
Verge [Member] \| Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	130,978	131,128
Verge [Member] \| Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	35,261	36,348
Verge [Member] \| Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	22,213	22,868
Verge [Member] \| Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	130,978	131,128
Greenville Partnerships [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	96,834	95,883
Cash and cash equivalents	1,595	567
Unrealized rents & receivables	83	13
Deferred costs	105	88
Secured notes payable	67,414	64,954
Other liabilities	2,243	3,014
Greenville Partnerships [Member] \| Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	98,617	96,551
Greenville Partnerships [Member] \| Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	10,858	11,087
Greenville Partnerships [Member] \| Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	18,102	17,496
Greenville Partnerships [Member] \| Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	98,617	96,551
Apartment Mixed Use [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	448,088	452,411
Cash and cash equivalents	8,713	7,772
Unrealized rents & receivables	6,533	5,155
Deferred costs	5,463	3,526
Secured notes payable	272,738	276,801
Other liabilities	6,305	10,685
Apartment Mixed Use [Member] \| Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	468,797	468,864
Apartment Mixed Use [Member] \| Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital - FRP	111,148	106,041
Apartment Mixed Use [Member] \| Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	78,606	75,337
Apartment Mixed Use [Member] \| Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	$ 468,797	$ 468,864

Investments in Joint Ventures_2

Investments in Joint Ventures as of December 31, 2022 (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	$ 498,119	$ 493,324
Cash and cash equivalents	8,814	7,937
Unrealized rents & receivables	6,990	5,577
Deferred costs	5,838	3,802
Total Assets	701,157	701,084
Secured notes payable	273,938	276,801
Other liabilities	6,635	11,023
Capital - Third Parties	410,790	407,145
Total Liabilities and Capital	701,157	701,084
Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	519,761	510,640
Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital – FRP	148,740	135,333
Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital - Third Parties	90,448	87,483
Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	519,761	510,640
Brooksville Quarry L L C [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	14,343	14,307
Cash and cash equivalents	27	66
Unrealized rents & receivables	0	0
Deferred costs	2	1
Secured notes payable	0	0
Other liabilities	64	0
Brooksville Quarry L L C [Member] \| Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	14,372	14,374
Brooksville Quarry L L C [Member] \| Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital – FRP	7,487	7,522
Brooksville Quarry L L C [Member] \| Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital - Third Parties	6,821	6,852
Brooksville Quarry L L C [Member] \| Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	14,372	14,374
B C F R P Realty L L C [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	21,260	21,059
Cash and cash equivalents	74	99
Unrealized rents & receivables	457	422
Deferred costs	373	245
Secured notes payable	11,856	10,899
Other liabilities	266	338
B C F R P Realty L L C [Member] \| Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	22,164	21,825
B C F R P Realty L L C [Member] \| Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital – FRP	5,021	5,294
B C F R P Realty L L C [Member] \| Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital - Third Parties	5,021	5,294
B C F R P Realty L L C [Member] \| Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	22,164	21,825
Lending Ventures [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	14,428	5,547
Cash and cash equivalents	0	0
Unrealized rents & receivables	0	0
Deferred costs	0	30
Secured notes payable	(10,656)	(10,899)
Other liabilities	0	0
Lending Ventures [Member] \| Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	14,428	5,577
Lending Ventures [Member] \| Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital – FRP	25,084	16,476
Lending Ventures [Member] \| Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital - Third Parties	0	0
Lending Ventures [Member] \| Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	14,428	5,577
Apartment Mixed Use [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	448,088	452,411
Cash and cash equivalents	8,713	7,772
Unrealized rents & receivables	6,533	5,155
Deferred costs	5,463	3,526
Secured notes payable	272,738	276,801
Other liabilities	6,305	10,685
Apartment Mixed Use [Member] \| Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	468,797	468,864
Apartment Mixed Use [Member] \| Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital – FRP	111,148	106,041
Apartment Mixed Use [Member] \| Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital - Third Parties	78,606	75,337
Apartment Mixed Use [Member] \| Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	$ 468,797	$ 468,864

Bryant Street Partnerships (Det

Bryant Street Partnerships (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Schedule of Equity Method Investments [Line Items]
Rental Revenue	$ 7,509	$ 6,823	$ 21,773	$ 19,850
Total Revenues	10,591	9,294	31,401	27,629
Property taxes	919	1,034	2,745	3,103
Total cost of operations	2,012	1,967	5,574	5,316
Total operating profit/(loss)	2,896	1,849	8,517	5,279
Interest expense	(1,116)	(738)	(3,251)	(2,215)
Net loss before tax	$ 1,566	$ 562	2,895	1,896
Bryant Street Partnerships [Member]
Schedule of Equity Method Investments [Line Items]
Rental Revenue			5,720	4,123
Revenue – other			1,095	801
Total Revenues			6,815	4,924
Depreciation and amortization			3,192	3,065
Operating expenses			2,690	2,360
Property taxes			484	539
Total cost of operations			6,366	5,964
Total operating profit/(loss)			449	(1,040)
Interest expense			(5,380)	(3,703)
Net loss before tax			(4,931)	(4,743)
Bryant Street Partnerships [Member]
Schedule of Equity Method Investments [Line Items]
Rental Revenue			9,322	6,718
Revenue – other			1,784	1,306
Total Revenues			11,106	8,024
Depreciation and amortization			5,202	4,995
Operating expenses			4,384	3,846
Property taxes			789	878
Total cost of operations			10,375	9,719
Total operating profit/(loss)			731	(1,695)
Interest expense			(8,607)	(5,437)
Net loss before tax			$ (7,876)	$ (7,132)

Greenville Partnerships (Detail

Greenville Partnerships (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Greenville Partnerships (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Schedule of Equity Method Investments [Line Items]
Rental Revenue	$ 7,509	$ 6,823	$ 21,773	$ 19,850
Total Revenues	10,591	9,294	31,401	27,629
Property taxes	919	1,034	2,745	3,103
Total cost of operations	2,012	1,967	5,574	5,316
Total operating profit/(loss)	2,896	1,849	8,517	5,279
Interest expense	(1,116)	(738)	(3,251)	(2,215)
Net loss before tax	$ 1,566	$ 562	2,895	1,896
Greenville Woodfield Partnerships [Member]
Schedule of Equity Method Investments [Line Items]
Rental Revenue			1,950	894
Revenue – other			162	50
Total Revenues			2,112	944
Depreciation and amortization			847	465
Operating expenses			714	363
Property taxes			353	190
Total cost of operations			1,914	1,018
Total operating profit/(loss)			198	(74)
Interest expense			(1,148)	(279)
Net loss before tax			(950)	(353)
Greenville Woodfield Partnerships [Member]
Schedule of Equity Method Investments [Line Items]
Rental Revenue			4,875	2,234
Revenue – other			405	125
Total Revenues			5,280	2,359
Depreciation and amortization			2,118	1,162
Operating expenses			1,784	906
Property taxes			882	476
Total cost of operations			4,784	2,544
Total operating profit/(loss)			496	(185)
Interest expense			(2,872)	(697)
Net loss before tax			$ (2,376)	$ (882)

Verge Partnership (Details)

Verge Partnership (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Verge Partnership (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Schedule of Equity Method Investments [Line Items]
Rental Revenue	$ 7,509	$ 6,823	$ 21,773	$ 19,850
Total Revenues	10,591	9,294	31,401	27,629
Property taxes	919	1,034	2,745	3,103
Total cost of operations	2,012	1,967	5,574	5,316
Total operating profit	2,896	1,849	8,517	5,279
Interest expense	(1,116)	(738)	(3,251)	(2,215)
Net profit before tax	$ 1,566	$ 562	2,895	$ 1,896
Verge [Member]
Schedule of Equity Method Investments [Line Items]
Rental Revenue			1,254
Revenue – other			196
Total Revenues			1,450
Depreciation and amortization			1,815
Operating expenses			1,263
Property taxes			455
Total cost of operations			3,533
Total operating profit			(2,083)
Interest expense			(2,312)
Net profit before tax			(4,395)
Verge [Member]
Schedule of Equity Method Investments [Line Items]
Rental Revenue			2,042
Revenue – other			320
Total Revenues			2,362
Depreciation and amortization			2,958
Operating expenses			2,057
Property taxes			741
Total cost of operations			5,756
Total operating profit			(3,394)
Interest expense			(3,767)
Net profit before tax			$ (7,161)

Investments in Joint Ventures_3

Investments in Joint Ventures (Details Narrative) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
Difference between carrying value and underlying equity	$ 5,285,000
Retained earnings (accumulated deficit)	$ (20,837,000)	$ (13,115,000)