<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FORM 10-K
FOR THE YEAR ENDED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMTENTS.
</LEGEND>
<CIK> 0000718075
<NAME> CORPORATE PROPERTY ASSOCIATES 5
       
                             
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               DEC-31-1997
<CASH>                                       3,046,822
<SECURITIES>                                         0
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                             3,046,822
<PP&E>                                      50,178,279
<DEPRECIATION>                              11,842,460
<TOTAL-ASSETS>                              44,264,553
<CURRENT-LIABILITIES>                        3,530,931
<BONDS>                                     10,446,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                             0
<OTHER-SE>                                  30,287,622
<TOTAL-LIABILITY-AND-EQUITY>                44,264,553
<SALES>                                              0
<TOTAL-REVENUES>                             9,749,700
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                             6,312,261
<LOSS-PROVISION>                               345,140
<INTEREST-EXPENSE>                           1,363,680
<INCOME-PRETAX>                              2,685,448
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                          2,685,448
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 2,685,448
<EPS-PRIMARY>                                    22.13
<EPS-DILUTED>                                    22.13