Presidio Property Trust

What Presidio Property Trust does

Presidio Property Trust is a publicly traded Real Estate Investment Trust (REIT) listed on NASDAQ under ticker symbols SQFT (common stock), SQFTP (Series D Preferred Stock), and SQFTW (warrants). Founded in 1999 in Maryland as NetREIT and headquartered at 4995 Murphy Canyon Rd., Suite 300 in San Diego, California, the company operates with a lean staff of 11-50 employees. Its stated strategy is contrarian value investing in real estate located in secondary and tertiary markets across the West and Midwest — geographies it characterizes as overlooked by institutional investors — where it pursues off-market acquisitions at attractive capitalization rates (historical examples include Joshua Village Shopping Center at ~10% cap rate and The Presidio office at 9.4% cap rate). The portfolio spans office, retail, industrial, medical office, self-storage, and residential model homes.

The company runs two operating lines. The commercial real estate line generates recurring rental income from direct leasing to enterprise tenants under triple-net lease structures. The model home line, executed through wholly-owned subsidiary NetREIT Dubose Model Home REIT (active since 2010), acquires model homes from homebuilders nationwide on a sale-leaseback basis where the homebuilder serves as tenant and pays all operating expenses. Distinct operational case studies include the 97,000-square-foot Joshua Village Shopping Center in Yucca Valley (anchored by a major grocer plus two fast-food outparcels) and the 81,000-square-foot The Presidio office building in Colorado Springs. The company has also implemented a BitPay integration to accept Bitcoin, Ethereum, Dogecoin, and Litecoin from commercial tenants.

Revenue is generated primarily through rental income (recurring) and property/ model home disposition gains (transactional). In FY2025, total revenue was approximately $16.8M, down 11.2% from $18.9M in FY2024, against a net loss of approximately $10.5M ($8.59 per share) — an improvement from a $27.9M loss the prior year. During FY2025, the company sold 20 model homes for $9.8M and two commercial properties for $15.9M (combined gains of approximately $5.4M) and reduced total debt by 9.8% to $92.1M; it also booked a $6.4M non-cash impairment. Capital has been raised through a $1.74M Series D Preferred Stock offering (June 2024) and a $2.05M direct offering (July 2025); in December 2025, Acorn Management Partners was engaged to broaden investor visibility.

Name

Presidio Property Trust

Legal name

Presidio Property Trust, Inc.

Website

https://presidiopt.com

Company type

Public

Founded year

1999

Operating status

Operating

Headcount range

11–50 employees

Short description

Presidio Property Trust is a publicly traded NASDAQ-listed REIT (SQFT) that acquires and operates commercial properties and model homes in secondary and tertiary markets across the West and Midwest through triple-net leases and homebuilder sale-leasebacks.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Investment Trust

NAICS

Funds, Trusts, and Other Financial Vehicles (525), Lessors of Nonresidential Buildings (except Miniwarehouses) (531120), Lessors of Nonresidential Buildings (except Miniwarehouses) (53112), Lessors of Real Estate (5311)

SIC

Real Estate Investment Trusts (6798), Lessors Of Real Property, Nec (6519), Operators Of Nonresidential Buildings (6512), Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

REITs & Listed Real Estate Securities (FSAAAKAD)

Keywords

• Commercial real estate
• Real estate investment trust
• Model home sale-leaseback
• Property leasing
• Value-add acquisitions

Headquarters

HQ city

San Diego

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Others

Revenue model

1. Rental Income - Commercial Properties: Leasing of commercial properties including office, retail, industrial, medical office, and self-storage properties across secondary and tertiary markets. All operating expenses are typically paid by tenants under triple-net lease arrangements.
2. Model Home Sale-Leaseback: Since 2010, the company through its subsidiary NetREIT Dubose Model Home REIT acquires model homes from homebuilders nationwide on a sale-leaseback basis. Assets provide secure cashflow with all operating expenses paid by the homebuilder, which is also the tenant. In FY2025, sold 20 model homes for $9.8 million.
3. Property Sales: Strategic disposition of commercial properties at favorable capitalization rates when market conditions are optimal. In FY2025, sold two commercial properties for $15.9 million, recognizing combined gains of approximately $5.4 million.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Presidio Property Trust is a publicly traded REIT that acquires and operates diversified commercial properties (office, retail, industrial, medical office, self-storage) in secondary and tertiary markets across the West and Midwest, primarily through off-market transactions with distressed sellers. Since 2010, the company has also operated a model home sale-leaseback program through its subsidiary NetREIT Dubose Model Home REIT, acquiring model homes from national homebuilders and leasing them back on triple-net terms.

Product overview

Presidio Property Trust is a publicly traded Real Estate Investment Trust (REIT) listed on NASDAQ (SQFT, SQFTP, SQFTW) that operates as a diversified property investment company. The company pursues a contrarian investment strategy focused on acquiring high-quality commercial properties and model homes in often overlooked secondary and tertiary markets. Its portfolio consists of two primary product lines: (1) Commercial Properties including office, retail, industrial, medical office, and self-storage properties across the West and Midwest, and (2) the Model Home Program operated through its NetREIT Dubose Model Home REIT subsidiary, which acquires model homes from homebuilders on a sale-leaseback basis. The company adds value through hands-on management and strategic property enhancements before divesting when valuations are favorable.

Differentiator

Problem solved

Functional benefit

Products and services

• Commercial Properties Portfolio Diversified commercial real estate assets (office, retail, industrial, medical office, self-storage) leased to enterprise tenants in underserved secondary and tertiary markets of the West and Midwest, primarily under triple-net lease arrangements.
• Model Home Sale-Leaseback Program Acquisition of model homes from national homebuilders with immediate leaseback to the homebuilder as tenant on triple-net terms; provides homebuilders liquidity while Presidio earns secure, accretive rental cashflow.
• Joshua Village Shopping Center 97,000 s.f. neighborhood shopping center in Yucca Valley, California, anchored by a major grocer with two fast food outparcels and in-line shop space.
• The Presidio (Colorado Springs Office Building) Four-story, 81,000 s.f. office building in Colorado Springs, Colorado, adjacent to Interstate 25 with views of Pikes Peak.

Quantifiable outcome

• 11.2% revenue decline to $16.8M, but net loss significantly narrowed to $10.5M from $27.9M
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature1 record

Scale indicators10 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Sachem Capital Corp. Small-cap specialty finance REIT/real estate lender. Comparable as a similarly-sized public real estate company; both operate in non-mainstream real estate niches with thin institutional coverage.
• Alpine Income Property Trust: Small-cap net lease REIT acquiring single-tenant retail and office properties. Comparable in size, public-market structure, and triple-net commercial property focus.
• Gladstone Commercial Corporation: Small-cap publicly traded REIT that acquires and manages diversified commercial properties (office, industrial, retail) net-leased to tenants. Closely comparable to Presidio in size, structure, and triple-net commercial focus.
• BRT Realty Trust: Small-cap diversified REIT owning multi-family, office, retail, and net-leased properties. Comparable to Presidio as a similarly-sized public REIT pursuing diversified real estate strategies.
• Global Self Storage Inc. Micro-cap self-storage REIT operating non-mainstream secondary markets. Directly comparable to Presidio as a small public REIT owning real estate in non-institutional markets.

Broad incumbents

• W. P. Carey Inc. Large diversified net-lease REIT with global industrial, retail, and office holdings. Comparable business model (net-lease commercial real estate) at much larger scale; serves as the institutional benchmark for Presidio's approach.
• Realty Income Corporation: The largest net-lease REIT in the U.S., focused on single-tenant commercial properties. Operates the same triple-net lease structure that Presidio employs, but at vastly greater scale and with prime-market assets.
• Getty Realty Corp. Net-lease REIT focused on convenience store and automotive properties. Operates the same triple-net structure as Presidio but in a specialized retail niche at meaningfully larger scale.
• National Retail Properties: Large net-lease REIT focused on single-tenant retail properties. Comparable as a publicly traded net-lease REIT, though focused exclusively on retail and operating in primary markets.
• American Assets Trust: Diversified REIT with office, retail, multifamily, and hospitality properties, primarily on the West Coast. Comparable diversified commercial REIT strategy; Presidio board member James Durfey previously served as VP at AAT.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries3 records

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Presidio Property Trust