Consolidated Statements of Income (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2011	Sep. 30, 2010
Revenues
Minimum rents	$ 14,269,539	$ 8,137,049	$ 31,620,261	$ 23,979,020
Percentage rents	564	7,843	21,972	20,842
Operating cost reimbursements	849,146	590,089	2,350,082	1,900,483
Development fee income		47,000	894,693	582,904
Other income	28,132	28,093	111,682	62,696
Total Revenues	15,147,381	8,810,074	34,998,690	26,545,945
Operating Expenses
Real estate taxes	870,568	455,382	2,276,250	1,452,046
Property operating expenses	377,777	396,900	1,187,197	1,122,616
Land lease payments	254,703	96,825	736,567	290,475
General and administrative	1,092,809	1,150,538	4,055,730	3,604,296
Depreciation and amortization	1,909,438	1,437,439	5,158,106	4,175,992
Impairment charge	13,500,000		13,500,000
Total Operating Expenses	18,005,295	3,537,084	26,913,850	10,645,425
Income (Loss) From Operations	(2,857,914)	5,272,990	8,084,840	15,900,520
Other Income (Expense)
Interest expense, net	(1,357,661)	(1,097,823)	(3,868,838)	(3,491,709)
Gain on extinguishment of debt	2,360,231		2,360,231
Income (Loss) Before Discontinued Operations	(1,855,344)	4,175,167	6,576,233	12,408,811
Gain (loss) on sale of asset from discontinued operations				5,328,333
Income from discontinued operations		365,401	91,816	1,203,364
Net Income (Loss)	(1,855,344)	4,540,568	6,668,049	18,940,508
Less Net Income (Loss) Attributable to Non-Controlling Interest	61,823	(148,960)	(228,630)	(691,413)
Net Income (Loss) Attributable to Agree Realty Corporation	$ (1,793,521)	$ 4,391,608	$ 6,439,419	$ 18,249,095
Earnings Per Share - Basic	$ (0.19)	$ 0.46	$ 0.67	$ 2.03
Earnings Per Share - Dilutive	$ (0.19)	$ 0.46	$ 0.67	$ 2.02
Dividend Declared Per Share	$ 0.40	$ 0.51	$ 1.20	$ 1.53
Weighted Average Number of Common Shares Outstanding - Basic	9,635,835	9,580,928	9,632,744	9,000,649
Weighted Average Number of Common Shares Outstanding - Dilutive	9,666,791	9,618,240	9,669,349	9,034,629