<PAGE>

                                  EXHIBIT 31.2

CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Kenneth R. Howe, certify that:

     1. I have reviewed this annual report on Form 10-K of Agree Realty
     Corporation;

     2. Based on my knowledge, this annual report does not contain any untrue
     statement of a material fact or omit to state a material fact necessary to
     make the statements made, in light of the circumstances under which such
     statements were made, not misleading with respect to the period covered by
     this annual report;

     3. Based on my knowledge, the financial statements, and other financial
     information included in this annual report, fairly present in all material
     respects the financial condition, results of operations and cash flows of
     the registrant as of, and for, the periods presented in this annual report;

     4. The registrant's other certifying officers and I are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a-15 and 15d-14) for the registrant and we have:

          a) designed such disclosure controls and procedures, or caused such
          disclosure controls and procedures to be designed under our
          supervision to ensure that material information relating to the
          registrant, including its consolidated subsidiaries, is made known to
          us by others within those entities, particularly during the period in
          which this annual report is being prepared;

          b) designed such internal control over financial reporting, or caused
          such internal control over financial reporting to be designed under
          our supervision, to provide reasonable assurance regarding the
          reliability of financial reporting and the preparation of financial
          statements for external purposes in accordance with generally accepted
          accounting principles.

          c) evaluated the effectiveness of the registrant's disclosure controls
          and procedures as of the end of the period covered by this annual
          report (the "Evaluation Date"); and

          d) disclosed in this annual report any change in the registrant's
          internal control over financial reporting that occurred during the
          registrant's fourth fiscal quarter that has materially affected or is
          reasonably likely to materially affect, the registrant's internal
          control over financial reporting.

     5. The registrant's other certifying officers and I have disclosed, based
     on our most recent evaluation, to the registrant's independent auditors and
     the audit committee of registrant's board of directors (or persons
     performing the equivalent function):

          a) all significant deficiencies and material weakness in the design or
          operation of internal controls over financial reporting which are
          reasonably likely to adversely affect the registrant's ability to
          record, process, summarize and report financial information; of
          internal control over financial reporting; and

          b) any fraud, whether or not material, that involves management or
          other employees who have a significant role in the registrant's
          internal controls; and

     6. The registrant's other certifying officers and I have indicated in this
     annual report whether or not there were significant changes in internal
     controls or in other factors that could significantly affect internal
     controls subsequent to the date of our most recent evaluation, including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.


Date: March 14, 2007                    /s/ Kenneth R. Howe
                                        ----------------------------------------
                                        Name: Kenneth R. Howe
                                        Title: Vice President, Finance