REAL ESTATE AND ACCUMULATED DEPRECIATION

12 Months Ended

Sep. 30, 2011

Real Estate and Accumulated Depreciation Disclosure [Abstract]

REAL ESTATE AND ACCUMULATED DEPRECIATION

SCHEDULE III

REAL ESTATE AND ACCUMULATED DEPRECIATION

SEPTEMBER 30, 2011

Column A		Column B		Column C				Column D
								Capitalization
						Buildings and		Subsequent to
Description		Encumbrances		Land		Improvements		Acquisition
Shopping Center
Somerset, NJ	$	-0-	$	55,182	$	637,097	$	665,218
Vacant Land
Shelby County, TN		-0-		11,065		-0-		-0-
El Paso, TX		-0-		1,133,600		0		-0-
Industrial Buildings
Monaca, PA		-0-		330,772		878,081		1,585,629
Orangeburg, NY		-0-		694,720		2,977,372		18,626
Greensboro, NC		-0-		327,100		1,853,700		14,546
Jackson, MS		-0-		218,000		1,233,500		395,635
Urbandale, IA		-0-		310,000		1,758,000		93,895
Richland, MS		-0-		211,000		1,195,000		72,000
O'Fallon, MO		-0-		264,000		3,302,000		334,602
Fayetteville, NC		3,465,837		172,000		4,467,885		213,229
Schaumburg, IL		299,156		1,039,800		3,694,320		153,260
Burr Ridge, IL		206,735		270,000		1,236,599		43,117
Romulus, MI		2,959,392		531,000		3,653,883		32,549
Liberty, MO		712,603		723,000		6,510,546		44,198
Omaha, NE		925,151		1,170,000		4,425,500		93,905
Charlottesville, VA		736,435		1,170,000		2,845,000		57,518
Jacksonville, FL		2,797,065		1,165,000		4,668,080		274,019
West Chester Twp, OH		3,082,771		695,000		3,342,000		1,024,253
Richmond, VA		2,111,792		1,160,000		6,413,305		130,088
St. Joseph, MO		3,783,483		800,000		11,753,964		-0-
Newington, CT		1,071,641		410,000		2,961,000		19,459
Cudahy, WI		1,875,565		980,000		5,050,997		3,336,027
Beltsville, MD		8,239,992		3,200,000		5,958,773		5,203,466
Granite City, IL		4,390,459		340,000		12,046,675		-0-
Monroe, NC		1,922,395		500,000		4,981,022		2,250
Winston-Salem, NC		3,288,535		980,000		5,610,000		46,481
Elgin, IL		2,514,037		1,280,000		5,529,488		-0-
Tolleson, AZ		5,978,903		1,320,000		13,329,000		7,442
Ft. Myers, FL		2,257,494		1,910,000		2,499,093		58,196
Edwardsville, KS		2,554,478		1,185,000		5,815,148		20,253
Tampa, FL		9,617,549		5,000,000		12,660,003		54,860
Denver, CO		2,350,869		1,150,000		3,890,300		1,313,751
Hanahan, SC (Norton)		7,035,392		1,129,000		11,831,321		12,153
Hanahan, SC (FDX)		2,300,422		930,000		3,426,362		3,250,308
Augusta, GA (FDX Gr)		1,673,335		614,406		3,026,409		1,685,559
Huntsville, AL		1,661,348		742,500		2,724,418		6,650
Richfield, OH		4,596,248		1,000,000		7,197,945		2,438
Colorado Springs, CO		2,567,159		1,270,000		3,821,000		2,097,640
Tampa, FL		4,925,374		2,830,000		4,704,531		3,886
Griffin, GA		8,541,196		760,000		13,692,115		416,742
Roanoke, VA		3,851,152		1,853,000		4,817,298		145,399

MONMOUTH REAL ESTATE INVESTMENT CORPORATION

SCHEDULE III

REAL ESTATE AND ACCUMULATED DEPRECIATION

SEPTEMBER 30, 2011

Column A		Column B		Column C				Column D
								Capitalization
						Buildings and		Subsequent to
Description		Encumbrances		Land		Improvements		Acquisition
Orion, MI		10,849,953		3,630,000		13,053,289		-0-
Carlstadt, NJ		2,561,646		1,194,000		3,645,501		-0-
Wheeling, IL		5,189,090		5,112,120		9,186,606		4,214,506
White Bear Lake, MN		1,630,739		1,393,000		3,764,126		-0-
Cheektowaga, NY		1,622,078		4,768,000		3,883,971		2,271,579
Richmond, VA (Carrier)		-0-		446,000		3,910,500		14,415
Quakertown, PA *		-0-		1,014,000		1,806,000		-0-
Montgomery, IL		5,326,758		2,000,000		9,225,683		16,479
Tampa, FL (Kellogg)		2,682,850		1,867,000		3,684,794		65,080
Augusta, GA (FDX)		1,098,279		380,000		1,400,943		-0-
Lakeland, FL		1,344,600		261,000		1,621,163		14,285
El Paso, TX		4,815,903		2,088,242		4,514,427		5,000
Chattanooga, TN		2,546,752		300,000		4,464,711		2,560
Bedford Heights, OH		3,462,791		990,000		4,893,912		680,087
Kansas City, MO		2,864,711		660,000		4,049,832		18,542
Punta Gorda, FL		2,516,855		660,000		3,444,915		-0-
Cocoa, FL		6,374,577		1,881,316		8,623,564		16,575
Orlando, FL		5,334,238		2,200,000		6,133,800		140,599
Topeka, KS		2,354,047		-0-		3,680,000		-0-
Memphis, TN		9,457,396		1,220,000		13,380,000		-0-
Houston, TX		4,882,197		1,730,000		6,320,000		2,355
Carrollton, TX		10,945,805		1,500,000		16,240,000		-0-
Ft. Mill, SC		4,258,137		1,670,000		10,045,000		-0-
Lebanon, TN		8,510,325		2,230,000		11,985,126		-0-
Rockford, IL		1,890,480		1,100,000		4,440,000		-0-
Edinburg, TX		4,800,000		1,000,000		6,414,000		-0-
	$	211,614,170	$	83,129,823	$	366,230,593	$	30,391,309

MONMOUTH REAL ESTATE INVESTMENT CORPORATION

SCHEDULE III

REAL ESTATE AND ACCUMULATED DEPRECIATION

SEPTEMBER 30, 2011

Column A		Column E (1) (2)
		Gross Amount at Which Carried
		September 30, 2011
Description		Land		Bldg & Imp		Total
Shopping Center
Somerset, NJ	$	55,182	$	1,302,315	$	1,357,497
Vacant Land
Shelby County, TN		11,065		-0-		11,065
El Paso, TX		1,133,600		-0-		1,133,600
Industrial Buildings
Monaca, PA		330,772		2,463,710		2,794,482
Orangeburg, NY		694,720		2,995,998		3,690,718
Greensboro, NC		327,100		1,868,246		2,195,346
Jackson, MS		218,000		1,629,135		1,847,135
Urbandale, IA		310,000		1,851,895		2,161,895
Richland, MS		211,000		1,267,000		1,478,000
O'Fallon, MO		264,000		3,636,602		3,900,602
Fayetteville, NC		172,000		4,681,114		4,853,114
Schaumburg, IL		1,039,800		3,847,580		4,887,380
Burr Ridge, IL		270,000		1,279,716		1,549,716
Romulus, MI		531,000		3,686,432		4,217,432
Liberty, MO		723,000		6,554,744		7,277,744
Omaha, NE		1,170,000		4,519,405		5,689,405
Charlottesville, VA		1,170,000		2,902,518		4,072,518
Jacksonville, FL		1,165,000		4,942,099		6,107,099
West Chester Twp, OH		695,000		4,366,253		5,061,253
Richmond, VA		1,160,000		6,543,393		7,703,393
St. Joseph, MO		800,000		11,753,964		12,553,964
Newington, CT		410,000		2,980,459		3,390,459
Cudahy, WI		980,000		8,387,024		9,367,024
Beltsville, MD		3,200,000		11,162,239		14,362,239
Granite City, IL		340,000		12,046,675		12,386,675
Monroe, NC		500,000		4,983,272		5,483,272
Winston-Salem, NC		980,000		5,656,481		6,636,481
Elgin, IL		1,280,000		5,529,488		6,809,488
Tolleson, AZ		1,320,000		13,336,442		14,656,442
Ft. Myers, FL		1,910,000		2,557,289		4,467,289
Edwardsville, KS		1,185,000		5,835,401		7,020,401
Tampa, FL		5,000,000		12,714,863		17,714,863
Denver, CO		1,150,000		5,204,051		6,354,051
Hanahan, SC (Norton)		1,129,000		11,843,474		12,972,474
Hanahan, SC (FDX)		930,000		6,676,670		7,606,670
Augusta, GA (FDX Gr)		614,406		4,711,968		5,326,374
Huntsville, AL		742,500		2,731,068		3,473,568
Richfield, OH		1,000,000		7,200,383		8,200,383
Colorado Springs, CO		1,270,000		5,918,640		7,188,640
Tampa, FL		2,830,000		4,708,417		7,538,417
Griffin, GA		760,000		14,108,857		14,868,857
Roanoke, VA		1,853,000		4,962,697		6,815,697

MONMOUTH REAL ESTATE INVESTMENT CORPORATION

SCHEDULE III

REAL ESTATE AND ACCUMULATED DEPRECIATION

SEPTEMBER 30, 2011

Column A		Column E (1) (2)
		Gross Amount at Which Carried
		September 30, 2011
Description		Land		Bldg & Imp		Total
Orion, MI	$	3,630,000	$	13,053,289	$	16,683,289
Carlstadt, NJ		1,194,000		3,645,501		4,839,501
Wheeling, IL		5,112,120		13,401,112		18,513,232
White Bear Lake, MN		1,393,000		3,764,126		5,157,126
Cheektowaga, NY		4,768,000		6,155,550		10,923,550
Richmond, VA (Carrier)		446,000		3,924,915		4,370,915
Quakertown, PA *		1,014,000		1,806,000		2,820,000
Montgomery, IL		2,000,000		9,242,162		11,242,162
Tampa, FL (Kellogg)		1,867,000		3,749,874		5,616,874
Augusta, GA (FDX)		380,000		1,400,943		1,780,943
Lakeland, FL		261,000		1,635,448		1,896,448
El Paso, TX		2,088,242		4,519,427		6,607,669
Chattanooga, TN		300,000		4,467,271		4,767,271
Bedford Heights, OH		990,000		5,573,999		6,563,999
Kansas City, MO		660,000		4,068,374		4,728,374
Punta Gorda, FL		660,000		3,444,915		4,104,915
Cocoa, FL		1,881,316		8,640,139		10,521,455
Orlando, FL		2,200,000		6,274,399		8,474,399
Topeka, KS		-0-		3,680,000		3,680,000
Memphis, TN		1,220,000		13,380,000		14,600,000
Houston, TX		1,730,000		6,322,355		8,052,355
Carrollton, TX		1,500,000		16,240,000		17,740,000
Ft. Mill, SC		1,670,000		10,045,000		11,715,000
Lebanon, TN		2,230,000		11,985,126		14,215,126
Rockford, IL		1,100,000		4,440,000		5,540,000
Edinburg, TX		1,000,000		6,414,000		7,414,000
	$	83,129,823	$	396,621,902	$	479,751,725

MONMOUTH REAL ESTATE INVESTMENT CORPORATION

SCHEDULE III

REAL ESTATE AND ACCUMULATED DEPRECIATION

SEPTEMBER 30, 2011

Column A		Column F	Column G	Column H	Column I
Description		Accumulated Depreciation	Date of Construction	Date Acquired	Depreciable Life
Shopping Center
Somerset, NJ	$	1,219,860	1970	1970	10-33
Vacant Land
Shelby County, TN		-0-	N/A	2007	N/A
El Paso, TX		-0-	N/A	2011	N/A
Industrial Buildings
Monaca, PA		1,264,500	1977	1977 (A)	5-31.5
Orangeburg, NY		1,796,801	1990	1993	31.5
Greensboro, NC		1,036,325	1988	1993	31.5
Jackson, MS		828,661	1988	1993	39
Urbandale, IA		827,151	1985	1994	39
Richland, MS		550,138	1986	1994	39
O'Fallon, MO		1,512,832	1989	1994	39
Fayetteville, NC		1,714,285	1996	1997	39
Schaumburg, IL		1,494,288	1997	1997	39
Burr Ridge, IL		447,059	1997	1997	39
Romulus, MI		1,279,020	1998	1998	39
Liberty, MO		2,263,022	1997	1998	39
Omaha, NE		1,471,700	1999	1999	39
Charlottesville, VA		919,431	1998	1999	39
Jacksonville, FL		1,570,019	1998	1999	39
West Chester Twp, OH		1,184,745	1999	2000	39
Richmond, VA		1,754,496	2000	2001	39
St. Joseph, MO		3,164,366	2000	2001	39
Newington, CT		805,087	2001	2001	39
Cudahy, WI		1,747,251	2001	2001	39
Beltsville, MD		2,065,361	2000	2001	39
Granite City, IL		2,935,498	2001	2001	39
Monroe, NC		1,213,652	2001	2001	39
Winston-Salem, NC		1,375,223	2001	2002	39
Elgin, IL		1,346,872	2002	2002	39
Tolleson, AZ		2,905,038	2002	2002	39
Ft. Myers, FL		574,425	1974 (B)	2002	39
Edwardsville, KS		1,280,148	2002	2003	39
Tampa, FL		2,435,902	2004	2004	39
Denver, CO		766,878	2005	2005	39
Hanahan, SC (Norton)		1,973,155	2002	2005	39
Hanahan, SC (FDX)		860,191	2005	2005	39
Augusta, GA (FDX Gr)		650,780	2005	2005	39
Huntsville, AL		436,195	2005	2005	39
Richfield, OH		1,016,045	2006	2006	39
Colorado Springs, CO		724,835	2006	2006	39
Tampa, FL		644,634	2006	2006	39
Griffin, GA		1,957,835	2002/2005 (C)	2006	39
Roanoke, VA		555,548	1996	2007	39

MONMOUTH REAL ESTATE INVESTMENT CORPORATION

SCHEDULE III

REAL ESTATE AND ACCUMULATED DEPRECIATION

SEPTEMBER 30, 2011

Column A		Column F	Column G	Column H	Column I
Description		Accumulated Depreciation	Date of Construction	Date Acquired	Depreciable Life
Orion, MI		1,472,068	2007	2007	39
Carlstadt, NJ		397,245	1977	2007	39
Wheeling, IL		1,844,280	2003	2007	39
White Bear Lake, MN		443,239	2001	2007	39
Cheektowaga, NY		695,164	2002	2007	39
Richmond, VA (Carrier)		450,340	2004	2007	39
Quakertown, PA *		258,273	1988	2007	39
Montgomery, IL		1,087,044	2004	2007	39
Tampa, FL (Kellogg)		442,422	1989	2007	39
Augusta, GA (FDX)		161,640	1993	2007	39
Lakeland, FL		190,282	1993	2007	39
El Paso, TX		520,875	2005	2007	39
Chattanooga, TN		516,147	2002	2007	39
Bedford Heights, OH		600,574	1998	2007	39
Kansas City, MO		470,760	2002	2007	39
Punta Gorda, FL		386,407	2007	2007	39
Cocoa, FL		778,430	2006	2008	39
Orlando, FL		583,317	1997	2008	39
Topeka, KS		235,937	2006	2009	39
Memphis, TN		514,620	1994	2010	39
Houston, TX		244,349	2005	2010	39
Carrollton, TX		624,615	2009	2010	39
Ft. Mill, SC		386,346	2009	2010	39
Lebanon, TN		153,660	1993	2011	39
Rockford, IL		56,925	1998-2008	2011	39
Edinburg, TX		82,231	2011	2011	39
	$	68,166,442
(A) Buildings & improvements re-acquired in 1986.
(B)   Property was renovated in 2001.
(C)   Property consist of 2 buildings
* Property was classified as held for sale

(1)Reconciliation

REAL ESTATE INVESTMENTS

		9/30/11		9/30/10		9/30/09
Balance-Beginning of Year	$	450,989,454	$	397,998,771	$	390,175,072
Additions:
Acquisitions		28,302,726		52,107,355		3,680,000
Improvements		1,445,202		883,328		4,143,699
Total Additions		29,747,928		52,990,683		7,823,699
Deletions:
Sales		-0-		-0-		-0-
Fully Depreciated Assets		(985,657)		-0-		-0-
Total Deletions		(985,657)		-0-		-0-
Balance-End of Year	$	$479,751,725	$	$450,989,454	$	397,998,771

ACCUMULATED DEPRECIATION

		9/30/11		9/30/10		9/30/09
Balance-Beginning of Year	$	58,800,741	$	49,393,929	$	40,824,504
Depreciation		10,351,358		9,406,812		8,569,425
Sales		-0-		-0-		-0-
Fully Depreciated Assets		(985,657)		-0-		-0-
Balance-End of Year	$	68,166,442	$	58,800,741	$	49,393,929

MONMOUTH REAL ESTATE INVESTMENT CORPORATION AND SUBSIDIARIES

NOTES TO SCHEDULE III

SEPTEMBER 30,

(1) Reconciliation

		2011		2010		2009
Balance – Beginning of Year	$	$450,989,454	$	397,998,771	$	390,175,072
Additions:
Somerset, NJ		-0-		-0-		87,421
Monaca, PA		384,647		7,235		485,651
Orangeburg, NY		-0-		4,715		-0-
Greensboro, NC		-0-		2,200		-0-
Jackson, MS		3,164		118,702		150,000
Urbandale, IA		-0-		-0-		-0-
Richland, MS		-0-		-0-		-0-
O’Fallon, MO		33,414		33,413		-0-
Fayetteville, NC		-0-		-0-		-0-
Schaumburg, IL		4,614		-0-		-0-
Burr Ridge, IL		4,709		5,342		26,951
Romulus, MI		-0-		20,471		-0-
Liberty, MO		44,198		-0-		-0-
Omaha, NE		5,160		2,533		44,295
Charlottesville, VA		49,818		3,500		4,200
Jacksonville, FL		11,293		22,976		102,814
West Chester Twp, OH		-0-		-0-		-0-
Richmond, VA		16,223		90,600		-0-
St. Joseph, MO		-0-		-0-		-0-
Newington, CT		2,430		11,543		-0-
Cudahy, WI		-0-		11,824		-0-
Beltsville, MD		-0-		-0-		216,377
Granite City, IL		-0-		-0-		-0-
Monroe, NC		-0-		2,250		-0-
Winston Salem, NC		-0-		4,275		-0-
Elgin, IL		-0-		-0-		-0-
Tolleson, AZ		7,442		-0-		-0-
Ft. Myers, FL		16,245		-0-		3,076
Edwardsville, KS		-0-		-0-		-0-
Tampa, FL (FDX Ground)		54,860		-0-		-0-
Denver, CO		5,235		-0-		(3,451)
Hanahan, SC (Norton)		-0-		-0-		-0-
Hanahan, SC (FDX)		-0-		192		202,502
Augusta, GA		1,406		3,975		271,626
Huntsville, AL		6,650		-0-		-0-
Richfield, OH		-0-		2,438		-0-
Colorado Springs, CO		-0-		-0-		85,870
Tampa, FL (FDX)		4,115		(229)		-0-
Griffin, GA		-0-		-0-		416,742
Roanoke, VA		93,234		52,165		-0-
Orion, MI		-0-		-0-		-0-
Shelby County, TN		-0-		-0-		-0-
Carlstadt, NJ		-0-		-0-		-0-
Wheeling, IL		(1)		-0-		1,355
White Bear Lake, MN		-0-		-0-		-0-
Cheektowaga, NY		16,188		219,983		2,035,408
Richmond, VA (Carrier)		-0-		14,415		-0-

(1) Reconciliation (cont’d)

		2011		2010		2009
Quakertown, PA		-0-		-0-		-0-
Montgomery, IL		-0-		16,479		-0-
Tampa, FL (Kellogg)		20,970		44,110		-0-
Augusta, GA (FDX)		-0-		-0-		-0-
Lakeland, FL		14,285		-0-		-0-
El Paso, TX		5,000		-0-		-0-
Chattanooga, TN		-0-		2,560		-0-
Bedford Heights, OH		621,473		56,856		-0-
Kansas City, MO		-0-		-0-		-0-
Punta Gorda, FL		2,923		-0-		-0-
Cocoa, FL		11,859		4,716		-0-
Orlando, FL		3,648		124,246		12,862
Topeka, KS		-0-		(157)		3,680,000
Memphis, TN		-0-		14,600,000		-0-
Houston, TX		-0-		8,052,355		-0-
Carrollton, TX		-0-		17,740,000		-0-
Ft. Mill, SC		-0-		11,715,000		-0-
Lebanon, TN		14,215,126		-0-		-0-
Rockford, IL		5,540,000		-0-		-0-
El Paso, TX (Land)		1,133,600		-0-		-0-
Edinburg, TX		7,414,000		-0-		-0-
Total Additions		29,747,928		52,990,683		7,823,699
Total Disposals		(985,657)		(-0-)		(-0-)
Balance – End of Year	$	479,751,725	$	$450,989,454	$	397,998,771

(2)The aggregate cost for Federal tax purposes approximates historical cost.