UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q


[X] Quarterly Report Pursuant to Section 13 or 15(d) of the Securities
    Exchange Act of 1934

For the quarterly period ended September 30, 2006

                                       or

[ ] Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange
    Act of 1934

For the transition period from __________ to __________

Commission File Number: 0-11909


              REALMARK PROPERTY INVESTORS LIMITED PARTNERSHIP - II
              ----------------------------------------------------
             (Exact name of registrant as specified in its charter)



         Delaware                                          16-1212761
         --------                                          ----------
(State of organization)                     (IRS Employer Identification No.)


2350 North Forest Road, Getzville, New York 14068
-------------------------------------------------
(Address of principal executive offices)

(716) 636-0280
--------------
(Registrant's telephone number)

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 120 days. Yes [X]  No [ ]

Indicate by check mark whether the registrant is a large accelerated filer, an
accelerated filer, or a non-accelerated filer. See definition of "accelerated
filer and large accelerated filer" in Rule 12b-2 for the Exchange Act . (Check
one):

Large accelerated filer [ ]   Accelerated filer  [ ]  Non-accelerated filer  [X]

Indicate by check mark whether the registrant is a shell company (as defined in
Rule 12b-2 of the Exchange Act).
Yes [ ]    No [X]
<PAGE>
Part I - FINANCIAL INFORMATION
Item 1. Financial Statements
        --------------------
<TABLE>
<CAPTION>

                            Condensed Balance Sheets
                            ------------------------

                                                                                      (Unaudited)
                                                                                     September 30,       December 31,
                                                                                          2006              2005
                                                                                    -----------------  ---------------
<S>                                                                                     <C>                 <C>
                   Assets
---------------------------------------------
Property and equipment, all held for sale                                               $  4,766,594        4,767,385
Less accumulated depreciation                                                              2,531,480        2,531,480
                                                                                    -----------------  ---------------
                                                                                           2,235,114        2,235,905

Cash and equivalents                                                                         798,182          172,125
Other assets                                                                                 239,272          165,809
                                                                                    -----------------  ---------------
     Total assets                                                                       $  3,272,568        2,573,839
                                                                                    =================  ===============

      Liabilities and Partners' Equity
---------------------------------------------
Accounts payable and accrued expenses                                                         35,772           97,441
Other liabilities                                                                             45,976           50,780

Equity in losses of unconsolidated joint ventures in excess of investment                    935,957          797,591
Partners' equity                                                                           2,254,863        1,628,027
                                                                                    -----------------  ---------------
     Total liabilities and partners' equity                                             $  3,272,568        2,573,839
                                                                                    =================  ===============
</TABLE>


























                                       2
<PAGE>
<TABLE>
<CAPTION>

                                           Condensed Statements of Operations
                                           ----------------------------------
                                                     (Unaudited)

                                                    Three months ended Sept. 30,       Nine months ended Sept. 30,
                                                  ---------------------------------- ---------------------------------
                                                       2006               2005            2006              2005
                                                  ---------------    --------------- ---------------   ---------------
<S>                                                   <C>                  <C>             <C>               <C>
Rental income                                         $ 196,174            194,516         583,235           597,956
Other income                                                209                898             415             2,030
                                                  ---------------    --------------- ---------------   ---------------
     Total income                                       196,383            195,414         583,650           599,986
                                                  ---------------    --------------- ---------------   ---------------
Property operating costs                                152,844            109,367         412,546           393,810
Administrative expense - affiliates                      27,276             32,037          88,750            97,262
Other administrative expense                             34,034             14,431          69,619            77,126
                                                  ---------------    --------------- ---------------   ---------------
     Total expenses                                     214,154            155,835         570,915           568,198
                                                  ---------------    --------------- ---------------   ---------------
Income (loss) before equity in earnings of              (17,771)            39,579          12,735
     joint ventures                                                                                           31,788
Equity in earnings of joint ventures                   (101,412)            31,136         (36,132)          109,703
                                                  ---------------    --------------- ---------------   ---------------
Net income (loss) before equity interest in sale       (119,183)            70,715         (23,397)          141,491
     of land
Equity interest in sale of land                         650,233                  -         650,233                 -
                                                  ---------------    --------------- ---------------   ---------------
Net income                                            $ 531,050             70,715         626,836           141,491
                                                  ===============    =============== ===============   ===============

Net income per limited partnership unit               $   51.51               6.86           60.80             13.72
                                                  ===============    =============== ===============   ===============
Weighted average limited partnership units
     outstanding                                         10,000             10,000          10,000            10,000
                                                  ===============    =============== ===============   ===============
</TABLE>














                                       3
<PAGE>
<TABLE>
<CAPTION>
                                         Condensed Statements of Cash Flows
                                         ----------------------------------
                                                     (Unaudited)
                                                                                       Nine months ended Sept. 30,
                                                                                     ---------------------------------
                                                                                          2006              2005
                                                                                     ---------------   ---------------
<S>                                                                                      <C>                 <C>
Cash used in:
Operating activities:
     Net income                                                                          $ 626,836           141,491
     Adjustments:
       Equity in earnings of joint ventures                                                 36,132          (109,703)
       Equity interest in gain on sale of land                                            (650,233)                -

       Other, principally changes in other assets and liabilities                         (139,143)           49,397
                                                                                     ---------------   ---------------
          Net cash provided by (used in) operating activities                             (126,408)           81,185

Investing activities - additions to property and equipment                                       -           (10,660)
Financing activities - distribution received                                               752,465                 -
                                                                                     ---------------   ---------------
Net increase in cash and equivalents                                                       626,057            70,525
Cash and equivalents at beginning of period                                                172,125           167,131
                                                                                     ---------------   ---------------
Cash and equivalents at end of period                                                    $ 798,182           237,656
                                                                                     ===============   ===============
</TABLE>






































                                       4
<PAGE>
                          Notes to Financial Statements
                  Nine months ended September 30, 2006 and 2005
                                   (Unaudited)

Organization
------------

Realmark Property Investors Limited Partnership - II (the Partnership), a
Delaware Limited Partnership was formed on March 25, 1982, to invest in a
diversified portfolio of income producing real estate investments. The general
partners are Realmark Properties, Inc. (the corporate general partner) and
Joseph M. Jayson (the individual general partner). Joseph M. Jayson is the sole
stockholder of J.M. Jayson & Company Inc. Realmark Properties, Inc. is a
wholly-owned subsidiary of J.M. Jayson & Company, Inc. Under the partnership
agreement, the general partners and their affiliates receive compensation for
services rendered and reimbursement for expenses incurred on behalf of the
Partnership.

Basis of Presentation
---------------------

The accompanying unaudited interim financial statements have been prepared in
accordance with accounting principles generally accepted in the United States of
America and the instructions to Form 10-Q. Accordingly, they do not include all
of the information and notes required by accounting principles generally
accepted in the United States of America for complete financial statements. The
balance sheet at December 31, 2005 has been derived from the audited financial
statements at that date. In the opinion of management, all adjustments
(consisting of normal recurring adjustments) considered necessary for a fair
presentation, have been included. The Partnership's significant accounting
policies are set forth in its December 31, 2005 Form 10-K. The interim financial
statements should be read in conjunction with the financial statements included
therein. The interim results should not be considered indicative of the annual
results.
















                                        5
<PAGE>
Property and Equipment
----------------------

At September 30, 2006, the Partnership owned and operated an office complex in
Michigan (Northwind Office Park), and was a partner in two joint ventures. It
has a 50% interest in Research Triangle Industrial Park Joint Venture with the
other 50% owned by Realmark Property Investors Limited Partnership - VI A (RPILP
- VI A), an entity affiliated through common general partners. It also has a 50%
interest in Research Triangle Land Joint Venture.

All of the Partnership and venture properties are being actively marketed for
sale and therefore, are not being depreciated. Depreciation expense not recorded
during the three and nine month periods ended September 30, 2006 was
approximately $40,000 and $121,000, respectively. Depreciation expense not
recorded during the three and nine month periods ended September 30, 2005 was
approximately $55,000 and $164,000 respectively.

Investment in Research Triangle Industrial Park Joint Venture
-------------------------------------------------------------

The Venture owns and operates the Research Triangle Industrial Park West, an
office/warehouse facility located in Durham County, North Carolina. Summary
financial information of the Venture follows:
<TABLE>
<CAPTION>
                                              Balance Sheet Information
                                              -------------------------
                                                                                       September 30,    December 31,
                                                                                           2006             2005
                                                                                     ---------------------------------
<S>                                                                                       <C>              <C>
            Assets:
                 Net property, held for sale                                              $ 1,800,092      1,737,281
                 Cash and equivalents                                                             823         27,156
                 Escrow deposits                                                              672,271        780,049
                 Other assets                                                                 298,879        299,428
                                                                                     ---------------------------------
                      Total assets                                                        $ 2,772,065      2,843,914
                                                                                     =================================

            Liabilities:
                 Mortgage loan payable*                                                     4,738,791      4,833,899
                 Accounts payable and accrued expenses                                         96,019         22,030
                                                                                     ---------------------------------
                      Total liabilities                                                     4,834,810      4,855,929
                                                                                     ---------------------------------
            Partners' deficit:
                 The Partnership                                                             (927,956)      (906,592)
                 RPILP - VI A                                                              (1,134,789)    (1,105,423)
                                                                                     ---------------------------------
                      Total partners' deficit                                              (2,062,745)    (2,012,015)
                                                                                     ---------------------------------
                      Total liabilities and partners' deficit                             $ 2,772,065      2,843,914
                                                                                     =================================

</TABLE>





                                       6
<PAGE>
<TABLE>
<CAPTION>
                                                Operating Information
                                                ---------------------

                                                   Three months ended Sept. 30,        Nine months ended Sept. 30,
                                                 ----------------------------------  ---------------------------------
                                                      2006               2005             2006              2005
                                                 ----------------   ---------------  ---------------   ---------------
<S>                                              <C>                       <C>              <C>               <C>
          Rental income                          $             -           246,267          528,533           739,615
          Other                                            2,446             2,088            6,581             3,553
                                                 ----------------   ---------------  ---------------   ---------------
               Total income                                2,446           248,355          535,114           743,168
                                                 ----------------   ---------------  ---------------   ---------------
          Property operating costs                        77,892            56,068          203,488           152,538

          Interest                                        96,253           101,497          293,064           303,333
          Administrative
                                                          31,126            27,130           89,302            63,731
                                                 ----------------   ---------------  ---------------   ---------------
               Total expenses                            205,271           184,695          585,854           519,602
                                                 ----------------   ---------------  ---------------   ---------------
               Net income (loss)                 $      (202,825)           63,660          (50,740)          223,566
                                                 ================   ===============  ===============   ===============
          Allocation of net income:

               The Partnership                          (101,413)           31,830          (25,371)          111,783

               RPILP - VI A                             (101,412)           31,830          (25,369)          111,783
                                                 ----------------   ---------------  ---------------   ---------------
                                                 $      (202,825)           63,660          (50,740)          223,566
                                                 ================   ===============  ===============   ===============
</TABLE>
*The mortgage for the Research Triangle property matured in April 2006. The
property continues to make the amortizable monthly principal and interest
payments on the mortgage and has elected not to refinance the mortgage or
renegotiate the terms of the mortgage. The delinquent mortgage has not been
cured subsequent to the September 30, 2006 quarter end and the mortgagor could
make the mortgage callable due to the delinquent status of the mortgage,
however, the mortgagor has not exercised that option. Additionally, the
property's sole tenant moved out July 1, 2006; therefore, the property is no
longer earning rental income.

















                                       7
<PAGE>

Equity in Losses of Unconsolidated Joint Venture
------------------------------------------------

The Partnership owns a 50% interest in Research Land Joint Venture (Joint
Venture). On July 18, 2006, Joint Venture sold the land for a sales price of
$1,371,704, less closing costs of $66,631, repayments of amounts owed to
affiliates of $65,132 and less two purchase money notes totaling $143,332 for
total net proceeds related to the sale of $1,096,609. The net proceeds related
to the sale, which were distributed to the Partnership, amounted to $752,465,
resulting in a net gain on the sale amounting to $650,233. The amount
distributed to the Partnership represents approximately 69% of the net proceeds
related to the sale. The net proceeds related to the sale were not distributed
based on the Partnership's ownership interest of 50% due to the Partnership
incurring expenses in previous years related to operating the property (e.g.
real estate taxes). The investment in Joint Venture was being carried on the
Partnership's books at $102,234 at June 30, 2006 and has been written down to
zero at September 30, 2006.

PART I - Item 2.  Management's Discussion and Analysis of Financial Condition
                  -----------------------------------------------------------
                  and Results of Operations
                  -------------------------

Liquidity and Capital Resources
-------------------------------

Effective January 1, 2001, management began formally marketing all remaining
properties in the Partnership for sale. The Partnership continues to maintain a
cash position adequate to fund capital improvements. Cash increased
approximately $626,000 during the first nine months of 2006, primarily as a
result of the $752,465 distribution received from Research Joint Venture Land
related to the sale of Joint Venture's land. The Partnership made no
distributions to limited partners in the first nine months of 2006. In
accordance with the settlement of the lawsuit (Part II, Item 1), it is
anticipated that with the sale of the remaining property and joint ventures, the
Partnership may be in a position to make distributions to the limited partners.

Results of Operations
---------------------

The Partnership's net income (loss) for the first nine months of 2006 and 2005,
excluding equity in earnings from joint ventures, was approximately ($23,000)



                                        8
<PAGE>
and $141,000, respectively. Rental income decreased approximately $14,000 due to
an increase in vacancies. Property operating costs increased approximately
$18,000 due primarily to cleaning and maintenance expenses related to getting
the property ready for sale. Other administrative expense decreased
approximately $8,000 due to decreased legal and advertising expense.

PART I - Item 3.  Quantitative and Qualitative Disclosures About Market Risk
                  ----------------------------------------------------------

The Partnership's cash equivalents are short-term, interest-bearing bank
accounts. The mortgage loan on the Partnership's property is fixed rate and,
therefore, is not subject to market risk.

PART I - Item 4.  Controls and Procedures
                  -----------------------

Disclosure Controls and Procedures: The Partnership's management, with the
participation of the Partnership's Individual General Partner and Principal
Financial Officer, has evaluated the effectiveness of the Partnership's
disclosure controls and procedures (as such term is defined in Rule 13a-15(e)
under the Securities Exchange Act of 1934, as amended) as of the end of the
period covered by this report. Based upon such evaluation, the Partnership's
Individual General Partner and Principal Financial Officer have concluded that,
as of the end of such period, the Partnership's disclosure controls and
procedures are effective.

Internal Control Over Financial Reporting: There have been no significant
changes in the Partnership's internal control over financial reporting (as
defined in Rule 13a-15(f) under the Securities and Exchange Act of 1934, as
amended) during the fiscal quarter to which this report relates that have
materially affected, or are reasonably likely to materially affect, the
Partnership's internal control over financial reporting.

PART II - OTHER INFORMATION

Item 1. Legal Proceedings
        -----------------

As previously reported, the Partnership, as a nominal defendant, the General
Partners of the Partnership and of affiliated public partnerships (the "Realmark
Partnerships") and the officers and directors of the Corporate General Partner,
as defendants, had been involved in a class action litigation in New York State
court. The Partnership's settlement of this litigation is described in its
Annual Report on Form 10-K for the year ended December 31, 2005.

Item 5. Other Information
        -----------------

         Current report on Form 8-K filed by the Partnership during and
         subsequent to the quarter to which this report is filed:

         Form 8-K report filed on August 14, 2006

Item 6. Exhibits
        --------

         31.   Certification Pursuant to Rule 13a-14(a), as Adopted Pursuant to
               Section 302 of the Sarbanes-Oxley Act of 2002.

         32.   Certification Pursuant to 18 U.S.C. Section 1350, as Adopted
               Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
                                        9
<PAGE>
                                   SIGNATURES
                                   ----------



Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.


REALMARK PROPERTY INVESTORS LIMITED PARTNERHIP - II


              November 14, 2006                  /s/ Joseph M. Jayson
              -----------------                  --------------------
                    Date                         Joseph M. Jayson,
                                                 Individual General Partner and
                                                 Principal Financial Officer



































                                       10