Quarterly report pursuant to Section 13 or 15(d)

RELATED PARTY TRANSACTIONS (Details Textual)

v3.5.0.2
RELATED PARTY TRANSACTIONS (Details Textual) - USD ($)
3 Months Ended 5 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2015
Sep. 30, 2016
Dec. 31, 2015
Related Party Transaction [Line Items]          
Due to Related Parties $ 8,649     $ 8,649 $ 7,000
Advisor [Member]          
Related Party Transaction [Line Items]          
Acquisition Fees Description       The Company shall pay the Advisor a fee in the amount equal 3.0% of Companys Contract Purchase Price of its Properties, as Acquisition Fees. The total of all Acquisition Fees and Acquisition Expenses shall be reasonable, and shall not exceed 6.0% of the contract price of the property.  
Asset Management Fees Percentage       0.10%  
Financing Coordination Fees Percentage       1.00%  
Disposition Fees Description       the Company shall pay to its Advisor or one of its Affiliates 3.0% of the Contract Sales Price of each Property sold; provided, however, that if, in connection with such disposition, commissions are paid to third parties unaffiliated with our advisor or its affiliates, the disposition fees paid to our advisor, our sponsors, their affiliates and unaffiliated third parties may not exceed the lesser of the Competitive Real Estate Commission or 6% of the Contract Sales Price.  
Leasing Commission Fees Description       the Company shall pay to the Advisor or such Affiliate leasing commissions equal to 6.0% of the rents due pursuant to such lease for the first ten years of the lease term; provided, however (i) if the term of the lease is less than ten years, such commission percentage will apply to the full term of the lease and (ii) any rents due under a renewal of a lease of an existing tenant upon expiration of the initial lease agreement (including any extensions provided for thereunder) shall accrue a commission of 3.0% in lieu of the aforementioned 6.0% commission.  
Operating Expenses Description       the Company will reimburse the Advisors costs of providing administrative services, subject to the limitation that the Company will not reimburse the Advisor for any amount by which its operating expenses (including the asset management fee) at the end of the four preceding fiscal quarters exceeds the greater of (i) 2% of average invested assets and (ii) 25% of net income other than any additions to reserves for depreciation, bad debt or other similar noncash reserves and excluding any gain from the sale of assets for that period. In the event that annual operating expenses exceed these limits as of the end of any fiscal quarter (for the 12 months then ended) the board of directors must within 60 days after the end of such quarter inform the shareholders of the factors the board of directors considered in arriving at the conclusion that such higher operating expenses were justified.  
Subordinated Participation Fees Description       The subordinated participation fee is only due if the Preferred Return is achieved and is equal to the sum of: (i) 40% of the product of (a) the difference of (x) the Preliminary NAV per share minus (y) the Highest Prior NAV per share, multiplied by (b) the number of shares outstanding as of December 31 of the relevant annual period, but only if this results in a positive number, plus (ii) 40% of the product of: (a) the amount by which aggregate cash distributions to stockholders during the annual period, excluding return of capital distributions, divided by the weighted average number of shares outstanding for the annual period, exceed the Preferred Return, multiplied by (b) the weighted average number of shares outstanding for the annual period calculated on a monthly basis.  
Reimbursable Organizational and Offering Expenses [Member]          
Related Party Transaction [Line Items]          
Accrual organization and offering cost 187,101     $ 187,101  
Related Party Transaction, Expenses from Transactions with Related Party [1] 187,101 $ 0 $ 6,000 $ 187,101  
Reimbursable Organizational and Offering Expenses [Member] | Sponsor [Member]          
Related Party Transaction [Line Items]          
Gross Offering Proceeds Percentage       3.00%  
Accrual organization and offering cost, Related Party $ 1,160,923     $ 1,160,923  
Waiver Of Assets Management Fees [Member]          
Related Party Transaction [Line Items]          
Asset Management Fees Waive Percentage 0.025%        
Assets Management Fees Waived $ 11,798 $ 11,798 $ 11,798 11,798  
Monthly Asset Management Fees Waive Percentage 0.025%        
Sponsor Reimbursement [Member]          
Related Party Transaction [Line Items]          
Related Party Transaction, Expenses from Transactions with Related Party $ 434,332     $ 434,322  
[1] As of September 30, 2016, the Sponsor had incurred $1,160,923 of organizational and offering expenses on behalf of the Company. However, the Company is only obligated to reimburse the Sponsor to the extent of 3% of gross offering proceeds. The payable related to this obligation is reflected in “Due to affiliates” on the consolidated balance sheets.