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Midas Edge

NETSTREIT Corp.

For the period ended Dec 31, 2025. Filed Feb 10, 2026.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 10, 2026

NTST$18.91-0.9%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Schedule III - Real Estate and Accumulated Depreciation

NETSTREIT Corp.
Schedule III - Real Estate and Accumulated Depreciation
December 31, 2025
(Dollars in thousands)
Initial Cost to Company · Cost Capitalized Subsequent to Acquisition(1) · Gross Amount as of December 31, 2025(2), (3)
State · Number of Properties · Encumbrances · Land · Building and Improvements · Land · Building and Improvements · Land · Building and Improvements · Total · Accumulated Depreciation(3), (4) · Year of Construction · Year Acquired(5) · Life on Which Depreciation in Statements of Operations and Comprehensive Income is Computed
Alabama48$—$31,045$70,271$(115)$(603)$30,930$69,668$100,598$(8,121)1968–20252019–20252to35Years
Alaska1—1,3761,584——1,3761,5842,960(57)1996–19962025–20255to34Years
Arizona7—14,24524,410—9414,24524,50438,749(1,959)1979–20232021–20255to35Years
Arkansas11—7,30417,079—2,4177,30419,49626,800(2,278)1962–20242019–20255to35Years
California8—17,72036,550—27617,72036,82654,546(5,282)1968–20092020–20253to35Years
Colorado5—8,4235,502—2258,4235,72714,150(757)1978–20242019–20258to35Years
Connecticut4—9,57713,188——9,57713,18822,765(981)1972–20122021–20254to35Years
Florida16—22,76658,307—4322,76658,35081,116(4,734)1948–20242019–20254to35Years
Georgia35—36,71595,315—(68)36,71595,247131,962(12,789)1968–20252019–20250to35Years
Idaho2—6472,915——6472,9153,562(269)2007–20162019–20257to31Years
Illinois43—71,109134,363(169)19170,940134,554205,494(16,933)1944–20242020–20250to35Years
Indiana26—28,36662,562(465)(642)27,90161,92089,821(8,815)1961–20252019–20250to35Years
Iowa12—6,41018,340—5586,41018,89825,308(3,068)1975–20242019–20253to35Years
Kansas6—2,41312,732—542,41312,78615,199(1,648)1973–20242019–20253to35Years
Kentucky5—12,0149,542(358)(1,102)11,6568,44020,096(867)1985–20242020–20240to35Years
Louisiana17(8,042)21,07855,695(42)(202)21,03655,49376,529(6,762)1986–20242020–20255to35Years
Maryland4—3,0128,504(317)(935)2,6957,56910,264(1,032)1945–20162020–20215to35Years
Massachusetts3—8,136970(396)(364)7,7406068,346(28)2002–20122020–20230to35Years
Michigan15—11,54541,763(30)7711,51541,84053,355(6,027)1956–20242019–20244to35Years
Minnesota9—3,78416,506—983,78416,60420,388(1,778)1981–20242019–20254to35Years
Mississippi17—14,39040,554—46514,39041,01955,409(8,096)1962–20232019–20256to35Years
Missouri13—16,13015,479—2616,13015,50531,635(944)1930–20252019–20254to35Years
Montana2—3,05614,112—2443,05614,35617,412(1,023)2007–20242023–20235to35Years
Nebraska4—5,30316,686—2605,30316,94622,249(1,546)1990–20152021–20255to35Years
Nevada5—5,28611,798—555,28611,85317,139(2,209)1980–20142022–20225to35Years
New Hampshire3—4931,289—524931,3411,834(484)1970–19842020–20206to21Years
New Jersey6—10,04816,760(376)(1,290)9,67215,47025,142(828)1920–20242019–20250to35Years
New Mexico11—7,78014,061—4427,78014,50322,283(1,224)1980–20242021–20254to35Years
New York38—53,260122,178(506)(549)52,754121,629174,383(14,734)1896–20252020–20253to35Years
North Carolina20—15,49931,936(716)(1,066)14,78330,87045,653(5,623)1956–20242019–20250to35Years
North Dakota5—3,3099,181——3,3099,18112,490(972)2009–20242020–20248to35Years
Ohio36—20,95776,901(29)71020,92877,61198,539(11,124)1922–20252019–20253to35Years
Oklahoma13—7,56623,703—1717,56623,87431,440(1,483)1979–20242019–20250to35Years
Oregon2—3,991———3,991—3,991—2000–20032023–20230to0Years
Pennsylvania29—23,27360,715(598)(102)22,67560,61383,288(7,883)1916–20252019–20250to35Years
South Carolina15—7,87930,675—3647,87931,03938,918(3,248)1967–20232019–20252to35Years
South Dakota1—8484,083——8484,0834,931(572)2022–20222021–202112to35Years
Tennessee7—7,68212,822(90)(474)7,59212,34819,940(1,999)1963–20252019–20257to35Years
Texas95—185,194223,856(587)(810)184,607223,046407,653(15,055)1962–20252019–20254to35Years
Utah1—5192,609—95192,6183,137(592)2015–20152019–201910to32Years
Vermont10—1,4736,181(84)4161,3896,5977,986(1,442)1890–19992020–20224to31Years
Virginia15—32,26551,130—70432,26551,83484,099(6,845)1978–20252019–20253to35Years
Washington3—5,65912,321—335,65912,35418,013(2,790)1978–19972020–20216to30Years
West Virginia4—1,3844,402—1771,3844,5795,963(996)1996–20172019–20224to26Years
Wisconsin23—27,139101,935(773)(705)26,366101,230127,596(12,961)1970–20252019–20250to35Years
655$(8,042)$778,068$1,591,465$(5,651)$(751)$772,417$1,590,714$2,363,131$(188,858)

(1) Amounts shown as reductions to cost capitalized subsequent to acquisition represent provisions recorded for impairment of real estate.

(2)The aggregate cost for federal income tax purposes is $2.7 billion (unaudited).

(3) Properties with no building value represent a property for which the Company owns only the land, therefore depreciation and estimated life for depreciation are not applicable.

(4) Depreciation is calculated using the straight-line method over the estimated useful life of the asset, which is up to 35 years for buildings and up to 15 years for building improvements.

(5) The acquisition dates for properties acquired prior to December 23, 2019 are stated at the Company’s Private Offering and formation transactions date of December 23, 2019.

The following is a reconciliation of carrying value for land and building and improvements for the periods presented (in thousands):

Year Ended December 31,
202520242023
Balance, beginning of year$1,971,665$1,610,705$1,308,230
Additions
Acquisitions556,991443,481306,564
Improvements1,8034,5654,098
Property under development completed and placed in service6,37150,54164,711
Reclasses to held for investment15,42523,980—
Deductions
Reclasses to held for sale(169,185)(133,088)(66,762)
Provisions for impairment(19,876)(26,797)(3,509)
Involuntary conversion of assets and other adjustments(63)(1,722)—
Dispositions——(2,627)
Balance, end of year$2,363,131$1,971,665$1,610,705

The following is a reconciliation of accumulated depreciation for the periods presented (in thousands):

Year Ended December 31,
202520242023
Balance, beginning of year$143,422$101,210$62,526
Additions
Depreciation expense62,77454,73944,104
Deductions
Reclasses to held for sale(10,491)(7,011)(5,154)
Provisions for impairment(6,847)(5,323)(63)
Involuntary conversion of assets and other adjustments—(193)—
Dispositions——(203)
Balance, end of year$188,858$143,422$101,210

See report of independent registered public accounting firm.

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.