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INCOME TAXES (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
INCOME TAXES
Period of disqualification of REIT status									4 years
Reconciliation between Financial Statement Net Income and Federal Taxable Income:
Net income	$ 11,583us-gaap_NetIncomeLoss	$ 2,620us-gaap_NetIncomeLoss	$ 4,640us-gaap_NetIncomeLoss	$ 3,273us-gaap_NetIncomeLoss	$ 3,478us-gaap_NetIncomeLoss	$ 3,211us-gaap_NetIncomeLoss	$ 7,736us-gaap_NetIncomeLoss	$ 3,450us-gaap_NetIncomeLoss	$ 22,116us-gaap_NetIncomeLoss	$ 17,875us-gaap_NetIncomeLoss	$ 32,320us-gaap_NetIncomeLoss
Straight line rent adjustments										(1,025)olp_ReconciliationOfIncomeFromBookBasisToTaxBasisRentAdjustment	(919)olp_ReconciliationOfIncomeFromBookBasisToTaxBasisRentAdjustment
Book gain on sale - less than (in excess of) tax gain										1,391olp_ReconciliationOfIncomeFromBookBasisToTaxBasisGainOnSalesOfProperties	(445)olp_ReconciliationOfIncomeFromBookBasisToTaxBasisGainOnSalesOfProperties
Rent received in advance, net										691olp_ReconciliationOfIncomeFromBookBasisToTaxBasisRentalIncomeAdvanceNet	97olp_ReconciliationOfIncomeFromBookBasisToTaxBasisRentalIncomeAdvanceNet
Adjustments for above/below market leases										(144)olp_ReconciliationOfIncomeFromBookBasisToTaxBasisFinancialStatementAdjustmentForAboveAndBelowMarketLeases	6olp_ReconciliationOfIncomeFromBookBasisToTaxBasisFinancialStatementAdjustmentForAboveAndBelowMarketLeases
Restricted stock expense-tax (in excess of) book										357us-gaap_IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost	341us-gaap_IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
Federal excise tax, non-deductible										45olp_ReconciliationOfIncomeFromBookBasisToTaxBasisFederalExciseTax	290olp_ReconciliationOfIncomeFromBookBasisToTaxBasisFederalExciseTax
Book depreciation in excess of tax depreciation										1,686olp_ReconciliationOfIncomeFromBookBasisToTaxBasisDepreciationAndAmortization	(208)olp_ReconciliationOfIncomeFromBookBasisToTaxBasisDepreciationAndAmortization
Property acquisition costs - capitalized for tax purposes										850olp_ReconciliationOfIncomeFromBookBasisToTaxBasisPropertyAcquisitionCostCapitalizedForTaxPurpose	836olp_ReconciliationOfIncomeFromBookBasisToTaxBasisPropertyAcquisitionCostCapitalizedForTaxPurpose
Impairment charge										62us-gaap_IncomeTaxReconciliationNondeductibleExpenseImpairmentLosses
Other adjustments										(111)us-gaap_IncomeTaxReconciliationOtherAdjustments	(201)us-gaap_IncomeTaxReconciliationOtherAdjustments
Federal taxable income										21,677olp_ReconciliationOfIncomeFromBookBasisToTaxBasisProfitLossTaxBasis	32,117olp_ReconciliationOfIncomeFromBookBasisToTaxBasisProfitLossTaxBasis
Reconciliation between Cash Dividends Paid and Dividends Paid Deduction:
Dividends paid										21,999olp_CashDividendsPaidReconciliation	24,252olp_CashDividendsPaidReconciliation
Dividend reinvestment plan										230olp_DividendReinvestmentPlanCommonStockDiscountOnShares	256olp_DividendReinvestmentPlanCommonStockDiscountOnShares
Dividends before adjustment for previous and current year										22,229olp_DividendsBeforeAdjustmentsForPreviousAndCurrentYear	24,508olp_DividendsBeforeAdjustmentsForPreviousAndCurrentYear
Less: Spillover dividends designated to previous year										(7,659)olp_DividendsDesignatedToPreviousYear
Plus: Dividends designated from following year										7,107olp_DividendsDesignatedFromFollowingYear	7,659olp_DividendsDesignatedFromFollowingYear
Dividends paid deduction										21,677olp_DividendPaidDeductionFromTaxableIncome	32,167olp_DividendPaidDeductionFromTaxableIncome
Maximum
Reconciliation between Cash Dividends Paid and Dividends Paid Deduction:
Percentage of discount on common stock purchased through the dividend reinvestment plan									5.00%olp_PercentageOfDiscountOnCommonStockPurchasedThroughDividendReinvestmentPlan / us-gaap_RangeAxis = us-gaap_MaximumMember
Forecast
Reconciliation between Financial Statement Net Income and Federal Taxable Income:
Net income									22,116us-gaap_NetIncomeLoss / us-gaap_StatementScenarioAxis = us-gaap_ScenarioForecastMember
Straight line rent adjustments									(1,473)olp_ReconciliationOfIncomeFromBookBasisToTaxBasisRentAdjustment / us-gaap_StatementScenarioAxis = us-gaap_ScenarioForecastMember
Book gain on sale - less than (in excess of) tax gain									10,504olp_ReconciliationOfIncomeFromBookBasisToTaxBasisGainOnSalesOfProperties / us-gaap_StatementScenarioAxis = us-gaap_ScenarioForecastMember
Rent received in advance, net									(172)olp_ReconciliationOfIncomeFromBookBasisToTaxBasisRentalIncomeAdvanceNet / us-gaap_StatementScenarioAxis = us-gaap_ScenarioForecastMember
Adjustments for above/below market leases									(217)olp_ReconciliationOfIncomeFromBookBasisToTaxBasisFinancialStatementAdjustmentForAboveAndBelowMarketLeases / us-gaap_StatementScenarioAxis = us-gaap_ScenarioForecastMember
Restricted stock expense-tax (in excess of) book									(149)us-gaap_IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost / us-gaap_StatementScenarioAxis = us-gaap_ScenarioForecastMember
Federal excise tax, non-deductible									302olp_ReconciliationOfIncomeFromBookBasisToTaxBasisFederalExciseTax / us-gaap_StatementScenarioAxis = us-gaap_ScenarioForecastMember
Book depreciation in excess of tax depreciation									2,901olp_ReconciliationOfIncomeFromBookBasisToTaxBasisDepreciationAndAmortization / us-gaap_StatementScenarioAxis = us-gaap_ScenarioForecastMember
Property acquisition costs - capitalized for tax purposes									425olp_ReconciliationOfIncomeFromBookBasisToTaxBasisPropertyAcquisitionCostCapitalizedForTaxPurpose / us-gaap_StatementScenarioAxis = us-gaap_ScenarioForecastMember
Impairment charge									1,093us-gaap_IncomeTaxReconciliationNondeductibleExpenseImpairmentLosses / us-gaap_StatementScenarioAxis = us-gaap_ScenarioForecastMember
Other adjustments									(19)us-gaap_IncomeTaxReconciliationOtherAdjustments / us-gaap_StatementScenarioAxis = us-gaap_ScenarioForecastMember
Federal taxable income									35,311olp_ReconciliationOfIncomeFromBookBasisToTaxBasisProfitLossTaxBasis / us-gaap_StatementScenarioAxis = us-gaap_ScenarioForecastMember
Reconciliation between Cash Dividends Paid and Dividends Paid Deduction:
Dividends paid									24,117olp_CashDividendsPaidReconciliation / us-gaap_StatementScenarioAxis = us-gaap_ScenarioForecastMember
Dividend reinvestment plan									197olp_DividendReinvestmentPlanCommonStockDiscountOnShares / us-gaap_StatementScenarioAxis = us-gaap_ScenarioForecastMember
Dividends before adjustment for previous and current year									24,314olp_DividendsBeforeAdjustmentsForPreviousAndCurrentYear / us-gaap_StatementScenarioAxis = us-gaap_ScenarioForecastMember
Less: Spillover dividends designated to previous year									(7,107)olp_DividendsDesignatedToPreviousYear / us-gaap_StatementScenarioAxis = us-gaap_ScenarioForecastMember
Plus: Dividends designated from following year									18,104olp_DividendsDesignatedFromFollowingYear / us-gaap_StatementScenarioAxis = us-gaap_ScenarioForecastMember
Dividends paid deduction									$ 35,311olp_DividendPaidDeductionFromTaxableIncome / us-gaap_StatementScenarioAxis = us-gaap_ScenarioForecastMember

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