<PAGE>

                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549

                                   Form 10-Q

(Mark One)

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

For the quarterly period ended    September 30, 2000   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           0-22039
                       --------------------------------------------------------

                     Wells Real Estate Fund IX, L.P.
-------------------------------------------------------------------------------
            (Exact name of registrant as specified in its charter)

            Georgia                                     58-2126622
-------------------------------                     -------------------
(State of other jurisdiction of                     (I.R.S. Employer
incorporation or organization)                      Identification no.)

6200 The Corners Parkway, Suite 250,              Norcross, Georgia     30092
-------------------------------------------------------------------------------
(Address of principal executive offices)                             (Zip Code)

Registrant's telephone number, including area code (770) 449-7800
                                                   --------------

-------------------------------------------------------------------------------
             (Former name, former address and former fiscal year,
                         if changed since last report)

     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 90 days.

Yes    X      No _______________
    --------
<PAGE>

                                   Form 10-Q
                                   ---------

                        Wells Real Estate Fund IX,L.P.
                        -----------------------------

                                     INDEX
                                     -----

<TABLE>
<CAPTION>
                                                                                                            Page No.
                                                                                                            --------
<S>                                                                                                         <C>
PART I. FINANCIAL INFORMATION

               Item 1.  Financial Statements

                        Balance Sheets - September 30, 2000
                          and December 31, 1999..........................................................       3

                        Statements of Income for the Three Months and Nine Months
                          Ended September 30, 2000 and 1999..............................................       4

                        Statements of Partners' Capital for the Year Ended
                          December 31, 1999 and the Nine Months
                          Ended September 30, 2000.......................................................       5

                        Statements of Cash Flows for the Nine Months
                          Ended September 30, 2000 and 1999..............................................       6

                        Condensed Notes to Financial Statements..........................................       7

               Item 2.  Management's Discussion and Analysis of
                        Financial Condition and Results of
                        Operations.......................................................................       9

PART II.       OTHER INFORMATION.........................................................................      19
</TABLE>

                                       2
<PAGE>

                        WELLS REAL ESTATE FUND IX, L.P.
                    (a Georgia Public Limited Partnership)

                                BALANCE SHEETS

<TABLE>
<CAPTION>
              Assets                                                  September 30, 2000       December 31, 1999
              ------                                                  ------------------       -----------------
<S>                                                                   <C>                      <C>
Investment in joint venture (Note 2)                                     $ 26,426,871           $  27,196,918
Cash and Cash equivalents                                                     111,522                 102,194
Due from affiliates                                                           728,566                 639,956
Deferred project costs                                                          3,721                   5,485
                                                                         ------------           -------------

     Total assets                                                        $ 27,270,680           $  27,944,553
                                                                         ============           =============

     Liabilities and Partners' Capital
     ---------------------------------

Liabilities:
  Partnership distributions payable                                      $    715,533           $     628,046
                                                                         ------------           -------------
Partners' capital:
  Limited partners:
    Class A-3,088,354 units outstanding as
     of Sept. 30, 2000 and 3,072,322
     units as of December 31, 1999                                         26,247,236              26,114,657
    Class B-411,646 units outstanding as
     of Sept 30, 2000 and 427,678
     units as of December 31, 1999                                            307,911               1,201,850
                                                                         ------------           -------------

        Total partners' capital                                            26,555,147              27,316,507
                                                                         ------------           -------------

        Total liabilities and partners' capital                          $ 27,270,680           $  27,944,553
                                                                         ============           =============
</TABLE>

           See accompanying condensed notes to financial statements.

                                       3
<PAGE>

                        WELLS REAL ESTATE FUND IX, L.P.
                    (a Georgia Public Limited Partnership)

                             STATEMENTS OF INCOME

<TABLE>
<CAPTION>
                                                           Three Months Ended               Nine Months Ended
                                                           ------------------               -----------------
                                                     Sept 30, 2000    Sept 30, 1999   Sept 30, 2000      Sept 30, 1999
                                                     -------------    -------------   -------------      -------------
<S>                                                  <C>              <C>             <C>                <C>
   Revenues:
          Equity in income of joint ventures
                       (Note 2)                       $  450,486        $  408,547     $ 1,375,203        $  1,238,215
          Interest income                                  4,818                 0           4,818                   0
                                                      ----------        ----------     -----------        ------------
                                                         455,304           408,547       1,380,021           1,238,215
                                                      ----------        ----------     -----------        ------------
   Expenses:
          Computer cost                                    2,354             2,559           8,447               7,240
          Partnership administration                       7,899            11,278          36,473              50,936
          Legal and accounting fees                          583               626          16,823              15,848
          Amortization of organization costs                   0             3,125               0               6,250
                                                      ----------        ----------     -----------        ------------
                                                          10,836            17,588          61,743              80,274
                                                      ----------        ----------     -----------        ------------
          Net income                                  $  444,468        $  390,959     $ 1,318,278        $  1,157,941
                                                      ==========        ==========     ===========        ============
   Net income allocated to Class A Limited
          Partners                                    $  711,473        $  693,905     $ 2,171,851        $  2,068,171

   Net (loss) allocated to Class B Limited
          Partners                                    $ (267,005)       $ (302,946)    $  (853,573)       $   (910,230)

   Net income per Class A Limited Partner
          Unit                                        $     0.23        $     0.23     $      0.70        $       0.68

   Net (loss) per Class B Limited Partner Unit        $    (0.65)       $    (0.68)    $     (2.07)       $      (2.04)

   Cash distribution per Class A Limited
          Partner Unit                                $     0.23        $     0.23     $      0.67        $       0.68
</TABLE>

           See accompanying condensed notes to financial statements.

                                       4
<PAGE>

                        WELLS REAL ESTATE FUND IX, L.P.
                    (a Georgia Public Limited Partnership)

                        STATEMENT OF PARTNERS' CAPITAL
                 FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2000
                       AND YEAR ENDED DECEMBER 31, 1999

<TABLE>
<CAPTION>
                                                                          Limited Partners                                Total
                                                                          ----------------
                                                          Class A                            Class B                      Partners'
                                                  ----------------------------      -------------------------
                                                    Units           Amount            Units           Amount              Capital
                                                    -----           ------            -----           ------              -------
<S>                                               <C>            <C>              <C>               <C>                <C>
BALANCE, December 31, 1998                        2,989,875      $ 25,646,950        510,125        $ 2,879,510        $ 28,526,460

  Net income (loss)                                       0         2,713,636              0         (1,223,305)          1,490,331
  Partnership distributions                               0        (2,700,284)             0                  0          (2,700,284)
  Class B conversion elections                       82,447           454,355        (82,447)          (454,355)                  0
                                                 ----------      ------------     ----------        -----------        ------------

BALANCE, December 31, 1999                        3,072,322      $ 26,114,657        427,678        $ 1,201,850        $ 27,316,507

Net income (loss)                                         0         2,171,851              0           (853,573)          1,318,278
Partnership distributions                                 0        (2,079,638)             0                  0          (2,079,638)
Class B conversion elections                         16,874            47,519        (16,874)           (47,519)                  0
Class A conversion elections                           (842)           (7,153)           842              7,153                   0
                                                 ----------      ------------     ----------        -----------        ------------

BALANCE, September 30, 2000                       3,088,354      $ 26,247,236        411,646        $   307,911        $ 26,551,147
                                                 ==========      ============     ==========        ===========        ============
</TABLE>

           See accompanying condensed notes to financial statements.

                                       5
<PAGE>

                        WELLS REAL ESTATE FUND IX, L.P.
                    (a Georgia Public Limited Partnership)

                            STATEMENT OF CASH FLOWS

<TABLE>
<CAPTION>
                                                                                Nine Months Ended
                                                                                -----------------
                                                                    September 30, 2000         September 30, 1999
                                                                    -------------------        ------------------
<S>                                                                 <C>                        <C>
Cash flow from operating activities:
Net income                                                           $    1,318,278               $   1,157,941
Adjustments to reconcile net income to net
      cash (used in) provided by operating
     activities:
       Equity in income of joint venture                                 (1,375,203)                 (1,238,215)
         Amortization of organization costs                                       0                       6,250
Changes in assets and liabilities:
          Prepaids and  other assets                                              0                      (3,872)
          Accounts payable                                                        0                      (3,500)
                                                                      -------------               -------------
           Net cash used in operating activities                            (56,925)                    (81,396)
                                                                      -------------               -------------
Cash flow from investing activities:
            Investment in joint ventures                                    (44,358)                    (82,515)
            Distributions received from joint ventures                    2,102,762                   2,126,264
                                                                      -------------               -------------
                   Net cash provided by investing
                          activities                                      2,058,404                   2,043,749
                                                                      -------------               -------------

  Cash flow from financing activities:
            Distributions to partners from
                     accumulated earning                                 (1,992,151)                 (2,067,953)
                                                                      -------------               -------------

 Net increase (decrease) in cash and cash equivalents                         9,328                    (105,600)

  Cash and cash equivalents, beginning of year                              102,194                     326,022
                                                                      -------------               -------------

  Cash and cash equivalents, end of period                            $     111,522               $     220,422
                                                                      =============               =============

 Supplemental disclosure of noncash investing
  activities:  Deferred project costs applied to
  joint venture activities                                            $       1,764               $       3,624
                                                                      =============               =============
</TABLE>

           See accompanying condensed notes to financial statements.

                                       6
<PAGE>

                        WELLS REAL ESTATE FUND IX, L.P.
                    (A Georgia Public Limited Partnership)

                    Condensed Notes to Financial Statement

                              September 30, 2000

(1)  Summary of Significant Accounting Policies

     (a) General
     -----------

     Wells Real Estate Fund IX, L.P. (the "Partnership") is a Georgia public
     limited partnership having Leo F. Wells, III and Wells Partners, L.P., as
     General Partners. The Partnership was formed on August 15, 1994, for the
     purpose of acquiring, developing, constructing, owning, operating,
     improving, leasing, and otherwise managing for investment purposes income
     producing commercial properties.

     On January 5, 1996, the Partnership commenced a public offering of up to
     $35,000,000 of limited partnership units ($10.00 per unit) pursuant to a
     Registration Statement on Form S-11 filed under the Securities Act of 1933.
     The Partnership commenced active operations on February 12, 1996, when it
     received and accepted subscriptions for 125,000 units. An aggregate
     requirement of $2,500,000 of offering proceeds was reached on February
     26,1996, thus allowing for the admission of New York and Pennsylvania
     investors in the Partnership. The offering was terminated on December 30,
     1996, at which time the Partnership had sold 2,935,931 Class A Status
     Units, and 564,069 Class B Status Units, held by a total of 1,841 and 257
     Class A and Class B Limited Partners respectively, for total Limited
     Partner capital contributions of $35,000,000. After payment of $1,400,000
     in acquisition and advisory fees and expenses, payments of $5,254,603 in
     selling commissions and organization and offering expenses, the investment
     by the Partnership of $13,289,359 in the Fund VIII - Fund IX Joint Venture
     and the investment by the Partnership of $14,982,434 in the Fund IX-X-XI-
     REIT Joint Venture, as of September 30, 2000, the Partnership was holding
     net offering proceeds of $73,604 available for investment in properties.

     The Partnership owns interests in properties through equity ownership in
     the following joint ventures: (i) Fund VIII and Fund IX Associates, a joint
     venture between the Partnership and Wells Real Estate Fund VIII, L.P. (the
     "Fund VIII -IX Joint Venture"), and (ii) Fund IX-X-XI-REIT Associates, a
     joint venture among the Partnership, Wells Real Estate Fund X, L..P., Wells
     Real Estate Fund XI, L.P. Wells Operating Partnership, L.P. ("Wells OP"), a
     Delaware limited partnership having Wells Real Estate Investment Trust,
     Inc. (the Wells REIT"), as its general partner, (the "Fund IX-X-XI-REIT
     Joint Venture"); and (iii) the Fund VIII-IX-REIT Joint Venture, a joint
     venture between Wells OP and the Fund VIII-IX Joint Venture.

     As of September 30, 2000, the Partnership owned interests in the following
     properties through its ownership of the foregoing joint ventures: (i) a
     four-story office building in Madison, Wisconsin (the

                                       7
<PAGE>

     "US Cellular Office Building"), which is owned by the Fund VIII - IX Joint
     Venture; (ii) a one-story office building in Farmer's Branch, Texas (the
     "TCI Building"), which is owned by the Fund VIII - IX Joint Venture; (iii)
     a three-story office building in Knoxville, Tennessee (the "Alstom Power-
     Knoxville" formerly the "ABB Building"), which is owned by the Fund
     IX-X-XI-REIT Joint Venture; (iv) a two-story office building in Orange
     County, California, (the "Quest Building", formerly the "Bake Parkway
     Building", previously owned by Fund VIII-IX Joint Venture), which is now
     owned by the Fund VIII-IX-REIT Joint Venture; (v) a two-story office
     building in Boulder County, Colorado (the "Cirrus Logic Building"), which
     is owned by the Fund VIII - IX Joint Venture; (vi) a two-story office
     building in Boulder County, Colorado (the "Ohmeda Building"), which is
     owned by the Fund IX-X-XI-REIT Joint Venture; (vii) a three-story office
     building located in Boulder County, Colorado (the "360 Interlocken
     Building"), which is owned by the Fund IX-X-XI-REIT Joint Venture; (viii) a
     one-story office building located in Oklahoma City, Oklahoma (the "Avaya"
     formerly the "Lucent Technologies Building"), which is owned by the Fund
     IX-X-XI-REIT Joint Venture; and (ix) a single-story warehouse and office
     building located in Ogden, Weber County, Utah (the "Iomega Building"),
     which is owned by the Fund IX-X-XI-REIT Joint Venture.

     (b) Basis of Presentation
     -------------------------

     The financial statements of the Partnership have been prepared in
     accordance with instructions to Form 10-Q and do not include all of the
     information and footnotes required by generally accepted accounting
     principles for complete financial statements. These quarterly statements
     have not been examined by independent accountants, but in the opinion of
     the General Partners, the statements for the unaudited interim periods
     presented include all adjustments, which are of a normal and recurring
     nature, necessary to present a fair presentation of the results for such
     periods. For further information, refer to the financial statements and
     footnotes included in the Partnership's Form 10-K for the year ended
     December 31, 1999.

     2)  Investment in Joint Ventures
     --------------------------------

     The Partnership owns interests in nine properties as of September 30, 2000,
     through its ownership in joint ventures. The Partnership does not have
     control over the operations of the joint ventures; however, it does
     exercise significant influence. Accordingly, investment in joint ventures
     is recorded on the equity method. For further information on investments in
     joint ventures, see Form 10-K for the Partnership for the year ended
     December 31, 1999.

     The following describes additional information about certain properties in
     which the Company owns an interest as of September 30, 2000.

     Fund VIII-IX-REIT Joint Venture
     -------------------------------

     On June 15, 2000, the Fund VIII-IX-REIT Joint Venture was formed between
     Wells OP and Fund VIII and Fund IX Associates, a Georgia joint Venture
     partnership between Wells Real Estate Fund VIII, L.P. and Wells Real Estate
     Fund IX, L.P. (the "Fund VIII-IX Joint Venture"). On July 1, 2000, the Fund
     VIII-IX Joint Venture contributed its interest in the Bake Parkway Property
     to the Fund VIII-IX-REIT

                                       8
<PAGE>

     Joint Venture. The Bake Parkway Building is a two-story office building
     containing approximately 65,006 rentable square feet on a 4.4 acre tract of
     land in Irvine, California.

     A 42-month lease for the entire Bake Parkway Building has been signed by
     Quest Software, Inc. Occupancy occurred on August 1, 2000. Quest is a
     publicly traded corporation that provides software database management and
     disaster recovery services for its clients.

     Construction of tenant improvements required under the Quest lease is
     anticipated to cost approximately $1,250,000 and will be funded by Wells
     OP.

     Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS AND
     ------------------------------------------------------------------------
     RESULTS OF OPERATION.
     --------------------

     The following discussion and analysis should be read in conjunction with
     the accompanying financial statements of the Partnership and notes thereto.
     This Report contains forward-looking statements, within the meaning of
     Section 27A of the Securities Act of 1933 and 21E of the Securities
     Exchange Act of 1934, including discussion and analysis of the financial
     condition of the Partnership, anticipated capital expenditures required to
     complete certain projects, amounts of cash distributions anticipated to be
     distributed to Limited Partners in the future and certain other matters.
     Readers of this Report should be aware that there are various factors that
     could cause actual results to differ materially from any forward-looking
     statement made in this report, which include construction costs which may
     exceed estimates, construction delays, lease-up risks, inability to obtain
     new tenants upon expiration of existing leases, and the potential need to
     fund tenant improvements or other capital expenditures out of operating
     cash flow.

     Results of Operations and Changes in Financial Conditions
     ---------------------------------------------------------

     (a) General
     -----------

     As of September 30, 2000, the developed properties owned by the Partnership
     were 100% occupied, whereas they were 99.8% occupied at September 30, 1999.
     Gross revenues of the Partnership were $1,380,021 for the nine months ended
     September 30, 2000, as compared to $1,238,215 for the nine months ended
     September 30, 1999. The increase was attributable primarily to the equity
     in income of joint venture due to the increase in gross revenues at the ABB
     property which is now 100% occupied and income from the parking lot
     expansion at the Iomega property. Expenses of the Partnership decreased to
     $61,743 for the nine months ended September 30, 2000, as compared to
     $80,274 for the same period in 1999, as a result of decreased costs
     primarily in administrative salaries. As a result, net income of the
     Partnership was $1,318,278 for the nine months ended September 30, 2000, as
     compared to a net income of $1,157,941 for the nine months ended September
     30, 1999.

     The Partnership's net cash used in operating activities decreased to
     $(56,925) for 2000, as compared to $(81,396) for 1999, which is due
     primarily to the decrease in expenses. Net cash provided by investing
     activities increased to $2,058,404 from $2,043,749 because of the decreased
     investment in joint ventures. Net cash used in financing activities
     decreased from $2,067,953 to $1,992,151 due to the

                                       9
<PAGE>

distribution to partners from accumulated earnings. Cash and cash equivalents
decreased from $220,422 to $111,522 for the same period in 2000.

The Partnership's distributions per unit for Class A Unit holders for both the
third quarter of 2000, and 1999, was $0.23 per weighted average unit. No cash
distributions were made to the Limited Partners holding Class B Units or to the
General Partners. The Partnership currently anticipates that distributions will
continue to be paid on a quarterly basis on a level at least consistent with
1999 distributions.

The Partnership expects to continue to meet its short-term liquidity
requirements generally through net cash provided by operations which the
Partnership believes will continue to be adequate to meet both operating
requirements and distributions to limited partners.

The Partnership expects to make future real estate investments, directly or
through investments in joint ventures, from limited partners' capital
contributions. As of September 30, 2000, the Partnership was holding $73,604
available for investment in properties.

Property Operations
-------------------

As of September 30, 2000, the Partnership owned interests in the following
operational properties

The TCI Building/Fund VIII - Fund IX Joint Venture
--------------------------------------------------

<TABLE>
<CAPTION>
                                            Three Months Ended               Nine Months Ended
                                            ------------------               -----------------
                                     Sept 30, 2000    Sept 30, 1999    Sept 30, 2000     Sept 30, 1999
                                     -------------    -------------    -------------     -------------
<S>                                 <C>               <C>              <C>              <C>
Revenues:
Rental income                          $ 113,794        $ 113,794         $ 341,383        $ 341,383
Interest income                           11,300            5,756            26,640           19,415
                                       ---------        ---------         ---------        ---------
                                         125,094          119,550           368,023          360,798
                                       ---------        ---------         ---------        ---------

Expenses:
 Depreciation                             41,647           41,648           124,945          124,945
 Management & leasing expenses             4,586            4,435            13,186           13,070
 Other operating expenses                  1,646              997             9,106            8,162
                                       ---------        ---------         ---------        ---------
                                          47,879           47,080           147,237          146,177
                                       ---------        ---------         ---------        ---------

Net income                             $  77,215        $  72,470         $ 220,786        $ 214,621
                                       =========        =========         =========        =========

Occupied %                                   100%             100%              100%             100%

Partnership's Ownership %                   45.2%            45.2%             45.2%            45.2%

Cash Distribution to Partnership       $  50,885        $  48,740         $ 147,747        $ 144,960

Net income allocated to the
 Partnership                           $  34,904        $  32,759         $  99,802        $  97,016
</TABLE>

Rental income and expenses are stable for 2000, as compared to 1999, due to the
stable occupancy rates and expenses. Net income and cash distributions have
increased in 2000, as compared to 1999, due primarily to increased interest
income.

                                       10
<PAGE>

The Cirrus Logic Building/Fund VIII - Fund IX Joint Venture
-----------------------------------------------------------

<TABLE>
<CAPTION>
                                                 Three Months Ended                    Nine Months Ended
                                                 ------------------                    -----------------
                                          Sept 30, 2000        Sept 30, 1999      Sept 30, 2000     Sept 30, 1999
                                          -------------        -------------      -------------     -------------
<S>                                       <C>                  <C>                <C>                <C>
Revenues:
Rental income                               $ 184,539             $ 184,539         $ 553,617         $ 553,617
                                            ---------             ---------         ---------         ---------
Expenses:
  Depreciation                                 72,765                72,765           218,295           218,295
  Management & leasing expenses                11,264                10,314            33,791            30,654
  Other operating expenses                         29                (5,240)            4,852           (87,572)
                                            ---------             ---------         ---------         ---------
                                               84,058                77,839           256,938           161,377
                                            ---------             ---------         ---------         ---------

Net income                                  $ 100,481             $ 106,700         $ 296,679         $ 392,240
                                            =========             =========         =========         =========

Occupied %                                        100%                  100%              100%              100%

Partnership's Ownership %                        45.2%                 45.2%             45.2%             45.2%

Cash distribution to Partnership            $  71,261             $  74,063         $ 211,610         $ 254,797

Net income allocated to the
  Partnership                               $  45,421             $  48,232         $ 134,109         $ 177,305
</TABLE>

Rental income, depreciation and management and leasing fees remained relatively
stable while other operating expenses decreased for the nine months ended
September 30, 2000, as compared to the same period in 1999, due primarily to
differences in the annual adjustments for common area maintenance billing to the
tenant. Tenants are billed an estimated amount for current year common area
maintenance which is then reconciled the following year and the difference
billed to the tenant. Property taxes increased substantially in 1998, but the
tenant was not billed until the annual adjustment was computed in the second
quarter of 1999.

                                       11
<PAGE>

U.S. Cellular Building/Fund VIII - Fund IX Joint Venture
--------------------------------------------------------

<TABLE>
<CAPTION>
                                                 Three Months Ended                     Nine Months Ended
                                                 ------------------                     -----------------
                                          Sept 30, 2000        Sept 30, 1999      Sept 30, 2000     Sept 30, 1999
                                          -------------        -------------      -------------     -------------
<S>                                       <C>                  <C>                <C>               <C>
Revenues:
Rental income                               $  320,519           $  320,520         $  961,557        $  961,558
                                            ----------           ----------         ----------        ----------

Expenses:
  Depreciation                                 150,414              150,414            451,242           451,238
  Management & leasing expenses                 35,268               31,870            105,216            97,605
  Other operating expenses                      (8,854)              25,553            (64,793)           49,200
                                            ----------           ----------         ----------        ----------
                                               176,828              207,837            491,665           598,043
                                            ----------           ----------         ----------        ----------

Net income                                  $  143,691           $  112,683         $  469,892        $  363,515
                                            ==========           ==========         ==========        ==========

Occupied %                                         100%                 100%               100%              100%

Partnership's Ownership %                         45.2%                45.2%              45.2%             45.2%

Cash Distribution to Partnership            $  137,564           $  115,623         $  416,068        $  358,380


Net income allocated to the
  Partnership                               $   64,953           $   50,937         $  212,407        $  164,321
</TABLE>

Net income increased in 2000, as compared to 1999, due to an increase in CAM
reimbursements billed to the tenants in 2000. Tenants are billed an estimated
amount for common area maintenance which is then reconciled the following year
and the difference is billed to the tenant. Monthly common area maintenance
billings to the tenants were increased in 2000 to offset 1999 underpayment.
Management and lease fee reimbursement is included in other operating expenses.

                                       12
<PAGE>

The Alston Power-Knoxville Building (formerly the ABB Building/Fund IX-X-XI-REIT
--------------------------------------------------------------------------------
Joint Venture)
--------------

<TABLE>
<CAPTION>
                                                    Three Months Ended                        Nine Months Ended
                                                    ------------------                        -----------------
                                           Sept 30, 2000         Sept 30, 1999        Sept 30, 2000        Sept 30, 1999
                                           -------------         -------------        -------------        -------------
<S>                                        <C>                   <C>                  <C>                  <C>
Revenues:
Rental income                               $  288,969            $  261,986           $  895,551           $  784,065
Interest income                                 19,871                15,024               53,575               46,765
                                            ----------            ----------           ----------           ----------
                                               308,840               277,010              949,126              830,830
                                            ----------            ----------           ----------           ----------

Expenses:
  Depreciation                                  98,454               135,499              295,362              403,699
  Management & leasing expenses                 36,277                32,260              112,232               93,666
  Other operating expenses                     (26,544)              (17,097)             (69,178)             (13,390)
                                            ----------            ----------           ----------           ----------
                                               108,187               150,662              338,416              483,975
                                            ----------            ----------           ----------           ----------

Net income                                  $  200,653            $  126,348           $  610,710           $  346,855
                                            ==========            ==========           ==========           ==========

Occupied %                                         100%                   98%                 100%                  98%

Partnership's Ownership %                        39.12%                38.96%               39.12%               38.96%

Cash distribution to Partnership            $  116,696            $  102,725           $  353,126           $  294,561

Net income allocated to the
  Partnership                               $   78,513            $   49,217           $  239,202           $  135,938
</TABLE>

Rental income increased in 2000, over 1999, due primarily to the increased
occupancy level of the property. Total expenses decreased due to a decrease in
depreciation expense. This decrease resulted from an accelerated depreciation on
a tenant improvement for a short-term lease in 1999 for 23,092 square feet.
Other operating expenses are negative due to an offset of tenant reimbursements
in operating costs, as well as management and leasing fee reimbursements.
Tenants are billed an estimated amount for current year common area maintenance
which is then reconciled the following year and the difference billed to the
tenant. Net income and cash distributions increased in 2000, over 1999, due to a
combination of increased rental income and decreased operating expenses.

The Partnership's ownership interest in the Fund IX-X-XI-REIT Joint Venture
increased due to additional capital contributions made by the partnership to the
Joint Venture in the first quarter.

                                       13
<PAGE>

The Avaya Building (formerly Lucent Technologies)/Fund IX-X-XI-REIT Joint
-------------------------------------------------------------------------
Venture
-------

<TABLE>
<CAPTION>
                                                   Three Months Ended                        Nine Months Ended
                                                   ------------------                        -----------------
                                            Sept 30, 2000       Sept 30, 1999        Sept 30, 2000       Sept 30,1999
                                            -------------       -------------        ---------------     ------------
<S>                                         <C>                 <C>                  <C>                 <C>
Revenues:
Rental income                                $  145,752          $  145,752            $  437,256         $   437,256
                                             ----------          ----------            ----------         -----------

Expenses:
  Depreciation                                   45,801              45,801               137,403             137,403
  Management & leasing expenses                   5,369               5,370                16,109              16,109
  Other operating expenses                        1,669               1,766                 9,688              13,964
                                             ----------          ----------            ----------         -----------
                                                 52,839              52,937               163,200             167,476
                                             ----------          ----------            ----------         -----------

Net income                                   $   92,913          $   92,815            $  274,056         $   269,780
                                             ==========          ==========            ==========         ===========

Occupied %                                          100%                100%                  100%                100%

Partnership's Ownership %                         39.12%              38.96%                39.12%              38.96%

Cash distribution to Partnership             $   49,774          $   49,512            $  148,022         $   145,972

Net income allocated to the
  Partnership                                $   36,356          $   36,154            $  107,339         $   105,680
</TABLE>

Rental income, depreciation and management and leasing fees remained stable in
2000, as compared to 1999, while other operating expenses are slightly lower,
due primarily to a one-time charge for consulting fees in 1999, which did not
occur in 2000.

The Partnership's ownership interest in the Fund IX-X-XI-REIT Joint Venture
increased due to additional fundings by the Partnership to the Joint Venture in
the first quarter.

                                       14
<PAGE>

The Ohmeda Building/Fund IX-X-XI-REIT Joint Venture
---------------------------------------------------

<TABLE>
<CAPTION>
                                                  Three Months Ended                      Nine Months Ended
                                                  ------------------                      -----------------
                                            Sept 30, 2000       Sept 30, 1999       Sept 30, 2000        Sept 30, 1999
                                            -------------       -------------       -------------        -------------
<S>                                         <C>                 <C>                 <C>                  <C>
Revenues:
Rental income                               $   256,829         $   256,829         $   770,486          $   770,486
                                            -----------         -----------         -----------          -----------
Expenses:
  Depreciation                                   81,576              81,576             244,728              244,728
  Management & leasing expenses                  12,826              11,618              41,656               35,293
  Other operating expenses                       (7,585)              3,899              73,410                 (188)
                                            -----------         -----------         -----------          -----------
                                                 86,817              97,093             359,794              279,833
                                            -----------         -----------         -----------          -----------

Net income                                  $   170,012         $   159,736         $   410,692          $   490,653
                                            ===========         ===========         ===========          ===========

Occupied %                                          100%                100%                100%                 100%

Partnership's Ownership %                         39.12%               38.9%              39.12%                38.9%

Cash distribution to Partnership            $    96,214         $    91,777         $   250,013          $   281,352

Net income allocated to the
  Partnership                               $    66,524         $    62,220         $   160,856          $   192,162
</TABLE>

Net income decreased in 2000, as compared to 1999, due to an overall increase in
expenses. Operating expenses increased significantly due in part to a
significant rise in real estate taxes which stemmed form the revaluation of the
property by Boulder County authorities in 1999. A later reduction in taxes due
to an appeal in 2000 was offset by a common area maintenance reimbursement
credit to the tenant.

Rental income remained stable for the three and nine months ended September 30,
2000, as compared to the same period in 1999. Total expenses decreased for the
three-month period ended September 30, 2000, as compared to the same period for
1999, due largely to other operating expenses being negative. This is due to an
offset of tenant reimbursements in operating costs, as well as management and
leasing fee reimbursements. Cash distributions and net income allocated to the
Partnership for the three month period ended September 30, 2000, increased
slightly as compared to 1999. The Partnership's ownership interest increased to
additional cash fundings to the IX-X-I-REIT Joint Venture in the first quarter.

                                       15
<PAGE>

The 360 Interlocken Building/Fund IX-X-XI-REIT Joint Venture
------------------------------------------------------------

<TABLE>
<CAPTION>
                                                        Three Months Ended                       Nine Months Ended
                                                        ------------------                       -----------------
                                                Sept 30, 2000      Sept 30, 1999        Sept 30, 2000         Sept 30, 1999
                                                -------------      -------------        -------------         --------------
<S>                                             <C>                <C>                  <C>                   <C>
Revenues:
Rental income                                    $   207,454        $   207,791          $   635,898           $   622,070
                                                 -----------        -----------          -----------           -----------
Expenses:
  Depreciation                                        71,670             71,670              215,010               215,010
  Management & leasing expenses                       27,019             18,899               83,736                54,518
  Other operating expenses, net of
    reimbursements                                    (2,165)            (5,291)             (54,699)                5,342
                                                 -----------        -----------          -----------           -----------
                                                      96,524             85,278              244,047               274,870
                                                 -----------        -----------          -----------           -----------

Net income                                       $   110,930        $   122,513          $   391,851           $   347,200
                                                 ===========        ===========          ===========           ===========

Occupied %                                               100%               100%                 100%                  100%

Partnership's Ownership %                              39.12%             38.96%               39.12%                38.96%

Cash distribution to Partnership                 $    71,657        $    75,057          $   238,967           $   218,367

Net income allocated to the
  Partnership                                    $    43,407        $    47,720          $   153,486           $   135,914
</TABLE>

Rental income increased due to a tenant occupying additional space previously
leased to another tenant at a lower rate. Other operating expenses are negative
due to an offset of tenant reimbursements in operating costs, as well as
management and leasing fee reimbursement. Tenants are billed an estimated amount
for current year common area maintenance which is then reconciled the following
year and the difference billed to the tenants. Due to these CAM reimbursements,
management and leasing fees increased since these fees are charged only on
actual receipts received.

Cash distributions and net income allocated to the Partnership for the quarter
ended September 30, 2000, decreased in 2000, as compared to 1999, due to a
decrease in net income. The Partnership's ownership interest in the Fund IX-X-
XI-REIT Joint Venture increased due to additional capital contributions made by
the Partnership to the Joint Venture.

                                       16
<PAGE>

The Iomega Building/Fund IX-X-XI-REIT Joint Venture
---------------------------------------------------

<TABLE>
<CAPTION>
                                                    Three Months Ended                           Nine Months Ended
                                                    ------------------                           -----------------
                                           Sept 30, 2000         Sept 30, 1999         Sept 30, 2000       Sept 30, 1999
                                           -------------         -------------         -------------       --------------
<S>                                        <C>                   <C>                   <C>                 <C>
Revenues:
Rental income                               $   168,250           $   150,009           $   504,750         $   397,755
                                            -----------           -----------           -----------         -----------

Expenses:
  Depreciation                                   55,062                48,495               165,186             145,485
  Management & leasing expenses                   7,319                 8,291                21,879              17,629
  Other operating expenses                        2,253                 1,290                12,620               3,815
                                            -----------           -----------           -----------         -----------
                                                 64,634                58,076               199,685             166,929
                                            -----------           -----------           -----------         -----------

Net income                                  $   103,616           $    91,933           $   305,065         $   230,826
                                            ===========           ===========           ===========         ===========

Occupied %                                          100%                  100%                  100%                100%

Partnership's Ownership %                         39.12%                38.96%                39.12%              38.96%

Cash distribution to Partnership            $    60,197           $    53,193           $   178,502         $   142,807

Net income allocated to the
  Partnership                               $    40,544           $    35,812           $   119,484         $    90,380
</TABLE>

Rental income increased in 2000, as compared to 1999, due to the completion of
the parking lot complex in the second quarter of 1999. Total expenses increased
in 2000, over 1999, due to an increase in depreciation and real estate tax
expenses relating to the new parking lot. Cash distributions increased in 2000,
over 1999, due primarily to the increase in net income.

The Partnership's ownership interest in the Fund IX-X-XI-REIT Joint Venture
increased due to additional funding by the Partnership to the Joint Venture in
the first quarter.

                                       17
<PAGE>

The Quest Building (formerly Bake Parkway) / Fund VIII-IX-REIT Joint Venture
----------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                 Three Months Ended                      Nine Months Ended
                                                 ------------------                      -----------------
                                          Sept 30, 2000        Sept 30, 1999      Sept 30, 2000     Sept 30, 1999
                                          -------------        -------------      -------------     -------------
<S>                                       <C>                  <C>                <C>               <C>
Revenues:
Rental income                               $  162,369          $  164,378         $   491,127       $  493,135
                                            ----------          ----------         -----------       ----------

Expenses:
  Depreciation                                  46,368              53,917             154,203          161,752
  Management & leasing expenses                      0               6,196                   0           18,706
  Other operating expenses                      21,177               3,619              (8,370)           4,074
                                            ----------          ----------         -----------       ----------
                                                67,545              63,732             162,573          184,532
                                            ----------          ----------         -----------       ----------

Net income                                  $   94,824          $  100,646         $   328,554       $  308,603
                                            ==========          ==========         ===========       ==========

Occupied %                                         100%                100%                100%             100%

Partnership's Ownership %                         42.0%               45.2%               42.0%            45.2%

Cash Distribution to Partnership            $   74,318          $   77,915         $   247,318       $  234,272

Net income allocated to the
  Partnership                               $   39,864          $   45,496         $   148,517       $  139,499
</TABLE>


On June 15, 2000, the Fund VIII-IX-REIT Joint Venture was formed between Wells
OP and Fund VIII and Fund IX Associates, a Georgia joint Venture partnership
between Wells Real Estate Fund VIII, L.P. and Wells Real Estate Fund IX, L.P.
(the "Fund VIII-IX Joint Venture"). On July 1, 2000, the Fund VIII-IX Joint
Venture contributed its interest in the Bake Parkway Property to the Fund
VIUII-IX-REIT Joint Venture. The Bake Parkway Building is a two-story office
building containing approximately 65,006 rentable square feet on a 4.4 acre
tract of land in Irvine, California.

A 42-month lease for the entire Bake Parkway Building has been signed by Quest
Software, Inc. Occupancy occurred on August 1, 2000. Quest is a publicly traded
corporation that provides software database management and disaster recovery
services for its clients.

Construction of tenant improvements required under the Quest lease is
anticipated to cost approximately $1,250,000 and will be funded by Wells OP.

                                       18
<PAGE>

                          PART II - OTHER INFORMATION
                          ---------------------------

ITEM 6 (b). No reports on Form 8-K were filed during the third quarter of 2000.

                                  SIGNATURES

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

                            WELLS REAL ESTATE FUND IX, L.P.
                            (Registrant)
Dated: November 10, 2000    By: /s/ Leo F. Wells, III
                                ---------------------
                            Leo F. Wells, III, as Individual
                            General Partner and as President,
                            Sole Director and Chief Financial
                            Officer of Wells Capital, Inc., the
                            General Partner of Wells Partners, L.P.

                                       19