Exhibit 12.1

Kimco Realty Corporation and Subsidiaries

Computation of Ratio of Earnings to Fixed Charges

For the year ended December 31, 2008

Pretax earnings from continuing operations before adjustment for
minority interests or income loss from equity investees	$	47,418,852
Add:
Interest on indebtedness (excluding capitalized interest)		213,156,103
Amortization of debt related expenses		5,160,325
Portion of rents representative of the
interest factor		7,740,485
		273,475,765
Distributed income from equity investees		261,993,161
Pretax earnings from continuing operations, as adjusted	$	535,468,926
Fixed charges -
Interest on indebtedness (including capitalized interest)	$	241,850,328
Amortization of debt related expenses		2,163,271
Portion of rents representative of the
interest factor		7,740,485
Fixed charges	$	251,754,084
Ratio of earnings to fixed charges		2.1

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