<ARTICLE>                     5
<LEGEND>
         This schedule contains summary financial information extracted from the
financial statements of Realmark Property Investors Limited Partnership III for
the year ended December 31, 1998, and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<MULTIPLIER>                  1
       
                                             
<PERIOD-TYPE>                                   12-MOS
<FISCAL-YEAR-END>                                  DEC-31-1998
<PERIOD-START>                                     JAN-01-1998
<PERIOD-END>                                       DEC-31-1998
<CASH>                                                 387,827
<SECURITIES>                                                 0
<RECEIVABLES>                                          210,969
<ALLOWANCES>                                           203,157
<INVENTORY>                                                  0
<CURRENT-ASSETS>                                     2,360,814
<PP&E>                                              12,525,596
<DEPRECIATION>                                       5,772,493
<TOTAL-ASSETS>                                       9,113,917
<CURRENT-LIABILITIES>                                  305,568
<BONDS>                                              4,970,797
<COMMON>                                                     0
<PREFERRED-MANDATORY>                                        0
<PREFERRED>                                                  0
<OTHER-SE>                                                   0
<TOTAL-LIABILITY-AND-EQUITY>                         9,113,917
<SALES>                                                      0
<TOTAL-REVENUES>                                     2,432,298
<CGS>                                                        0
<TOTAL-COSTS>                                        2,840,623
<OTHER-EXPENSES>                                             0
<LOSS-PROVISION>                                             0
<INTEREST-EXPENSE>                                     484,938
<INCOME-PRETAX>                                       (408,325)
<INCOME-TAX>                                                 0
<INCOME-CONTINUING>                                          0
<DISCONTINUED>                                               0
<EXTRAORDINARY>                                        318,213  
<CHANGES>                                                    0  
<NET-INCOME>                                           (90,112)
<EPS-PRIMARY>                                            (5.62)
<EPS-DILUTED>                                                0