Condensed Consolidated Balance Sheets (Current Period Unaudited) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Rental property:
Land	$ 4,621,293	$ 4,621,293
Building and improvements	32,864,821	32,626,185
Machinery and equipment	344,733	344,733
	37,830,847	37,592,211
Less accumulated depreciation	7,475,739	7,234,846
	30,355,108	30,357,365
Land held for development:
Land	558,466	558,466
Land development costs	1,862,048	1,823,847
	2,420,514	2,382,313
Total real estate, net	32,775,622	32,739,678
Cash and cash equivalents	8,481,571	13,048,827
Investment in marketable securities	3,301,875	3,380,864
Rent receivable, net of allowance for doubtful accounts of approximately $76,000 and $74,000, respectively	205,547	95,829
Deferred rent receivable	216,123	215,709
Prepaid expenses and other assets	838,236	892,074
Prepaid pension costs	601,338	608,807
Total Assets	46,420,312	50,981,788
LIABILITIES:
Accounts payable	630,277	1,710,257
Accrued liabilities	392,998	3,246,403
Deferred rent liability	101,225	93,922
Tenant security deposits payable	480,392	474,111
Deferred income taxes	1,315,000	1,315,000
Dividend note payable	16,144,614	16,144,614
Total Liabilities	19,064,506	22,984,307
Commitments and contingencies
EQUITY:
Common stock, $1 par value; authorized 4,000,000 shares; 1,723,888 shares issued; 1,482,680 shares outstanding	1,723,888	1,723,888
Additional paid-in capital	17,753,505	17,753,505
Accumulated other comprehensive loss	148,772	118,789
Deficit retained earnings	(9,107,399)	(9,119,471)
	10,518,766	10,476,711
Less cost of shares of common stock held in treasury; 241,208	(1,537,697)	(1,537,697)
Total Gyrodyne Stockholders’ Equity	8,981,069	8,939,014
Non-controlling interest in GSD, LLC	18,374,737	19,058,467
Total equity	27,355,806	27,997,481
Total Liabilities and Equity	$ 46,420,312	$ 50,981,788