<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from MRI Business
Properties Fund III 1996 Second Quarter 10-Q and is qualified in its entirety
by reference to such 10-Q filing.
</LEGEND>
<CIK> 0000769635
<NAME> MRI BUSINESS PROPERTIES FUND, LTD III
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          SEP-30-1996
<PERIOD-END>                               MAR-31-1996
<CASH>                                             784
<SECURITIES>                                         0
<RECEIVABLES>                                      171
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0<F1>
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                                     955
<CURRENT-LIABILITIES>                                0<F1>
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                             0
<OTHER-SE>                                         906
<TOTAL-LIABILITY-AND-EQUITY>                       955
<SALES>                                              0
<TOTAL-REVENUES>                                 8,116
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                 1,549
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                 199
<INCOME-PRETAX>                                  6,536
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                              6,536
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     6,536
<EPS-PRIMARY>                                      .12
<EPS-DILUTED>                                        0
<FN>
<F1>The Registrant has an unclassified balance sheet.
</FN>