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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
 3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Cash flows from operating activities:    
Net income $ 9,207,000us-gaap_ProfitLoss $ 3,300,000us-gaap_ProfitLoss
Adjustments to reconcile net income to net cash provided by operating activities:    
Purchase price fair value adjustment 960,000us-gaap_AssetsFairValueAdjustment  
Gain on sales of real estate (5,392,000)olp_GainLossOnDisposalNetOfTaxCashFlowImpact  
Prepayment costs on debt 568,000us-gaap_GainsLossesOnExtinguishmentOfDebt  
Increase in rental income from straight-lining of rent (175,000)us-gaap_StraightLineRent (336,000)us-gaap_StraightLineRent
Increase in rental income from amortization of intangibles relating to leases (127,000)us-gaap_AmortizationOfAboveAndBelowMarketLeases (56,000)us-gaap_AmortizationOfAboveAndBelowMarketLeases
Amortization of restricted stock expense 577,000us-gaap_ShareBasedCompensation 472,000us-gaap_ShareBasedCompensation
Equity in earnings of unconsolidated joint ventures (147,000)us-gaap_IncomeLossFromEquityMethodInvestments (133,000)us-gaap_IncomeLossFromEquityMethodInvestments
Distributions of earnings from unconsolidated joint ventures 212,000us-gaap_EquityMethodInvestmentDividendsOrDistributions 113,000us-gaap_EquityMethodInvestmentDividendsOrDistributions
Depreciation and amortization 3,734,000us-gaap_DepreciationDepletionAndAmortization 3,577,000us-gaap_DepreciationDepletionAndAmortization
Amortization and write-off of financing costs 455,000us-gaap_AmortizationOfFinancingCosts 240,000us-gaap_AmortizationOfFinancingCosts
Payment of leasing commissions (550,000)us-gaap_PaymentsForLeaseCommissions (3,000)us-gaap_PaymentsForLeaseCommissions
Changes in assets and liabilities:    
(Increase) decrease in escrow, deposits, other assets and receivables (84,000)us-gaap_IncreaseDecreaseInOperatingAssets 1,099,000us-gaap_IncreaseDecreaseInOperatingAssets
Decrease in accrued expenses and other liabilities (983,000)us-gaap_IncreaseDecreaseInOperatingLiabilities (1,028,000)us-gaap_IncreaseDecreaseInOperatingLiabilities
Net cash provided by operating activities 6,335,000us-gaap_NetCashProvidedByUsedInOperatingActivities 7,245,000us-gaap_NetCashProvidedByUsedInOperatingActivities
Cash flows from investing activities:    
Purchase of real estate (31,413,000)us-gaap_PaymentsToAcquireAndDevelopRealEstate (5,109,000)us-gaap_PaymentsToAcquireAndDevelopRealEstate
Improvements to real estate (355,000)us-gaap_PaymentsToDevelopRealEstateAssets (38,000)us-gaap_PaymentsToDevelopRealEstateAssets
Net proceeds from sale of real estate 16,025,000us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment 5,177,000us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment
Purchase of partner's interest in unconsolidated joint venture (6,300,000)olp_PaymentsToPurchasePartnersInterestInUnconsolidatedJointVenture  
Additional investment in unconsolidated joint venture (3,664,000)us-gaap_PaymentsToAcquireInterestInJointVenture  
Distributions of return of capital from unconsolidated joint ventures 575,000us-gaap_ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital 7,000us-gaap_ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
Net cash (used in) provided by investing activities (25,132,000)us-gaap_NetCashProvidedByUsedInInvestingActivities 37,000us-gaap_NetCashProvidedByUsedInInvestingActivities
Cash flows from financing activities:    
Scheduled amortization payments of mortgages payable (1,875,000)olp_PaymentsOfAmortizationOfMortgagesPayable (1,874,000)olp_PaymentsOfAmortizationOfMortgagesPayable
Repayment of mortgages payable (12,168,000)us-gaap_RepaymentsOfSecuredDebt (19,003,000)us-gaap_RepaymentsOfSecuredDebt
Prepayment costs on debt (568,000)olp_PrepaymentCostsOnDebtRelatedToSale  
Proceeds from mortgage financings 28,268,000us-gaap_ProceedsFromIssuanceOfSecuredDebt 27,735,000us-gaap_ProceedsFromIssuanceOfSecuredDebt
Proceeds from sale of common stock, net   644,000us-gaap_ProceedsFromIssuanceOfCommonStock
Proceeds from bank line of credit 29,900,000us-gaap_ProceedsFromLongTermLinesOfCredit 3,500,000us-gaap_ProceedsFromLongTermLinesOfCredit
Repayment on bank line of credit (14,900,000)us-gaap_RepaymentsOfLongTermLinesOfCredit (13,900,000)us-gaap_RepaymentsOfLongTermLinesOfCredit
Issuance of shares through dividend reinvestment plan 585,000us-gaap_ProceedsFromIssuanceOfCommonStockDividendReinvestmentPlan 1,294,000us-gaap_ProceedsFromIssuanceOfCommonStockDividendReinvestmentPlan
Payment of financing costs (397,000)us-gaap_PaymentsOfFinancingCosts (260,000)us-gaap_PaymentsOfFinancingCosts
Capital contribution from non-controlling interest 663,000us-gaap_ProceedsFromMinorityShareholders  
Distributions to non-controlling interests (1,582,000)us-gaap_PaymentsToMinorityShareholders (75,000)us-gaap_PaymentsToMinorityShareholders
Cash distributions to common stockholders (6,320,000)us-gaap_PaymentsOfDividendsCommonStock (5,806,000)us-gaap_PaymentsOfDividendsCommonStock
Net cash provided by (used in) financing activities 21,606,000us-gaap_NetCashProvidedByUsedInFinancingActivities (7,745,000)us-gaap_NetCashProvidedByUsedInFinancingActivities
Net increase (decrease) in cash and cash equivalents 2,809,000us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (463,000)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents at beginning of year 20,344,000us-gaap_CashAndCashEquivalentsAtCarryingValue 16,631,000us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents at end of year 23,153,000us-gaap_CashAndCashEquivalentsAtCarryingValue 16,168,000us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental disclosures of cash flow information:    
Cash paid during the year for interest expense 3,783,000us-gaap_InterestPaid 4,027,000us-gaap_InterestPaid
Cash paid during the period for Federal excise tax 300,000olp_FederalExciseTaxPaid 64,000olp_FederalExciseTaxPaid
Supplemental schedule of non-cash investing and financing activities:    
Mortgage debt extinguished upon conveyance of property to mortgagee by deed -in -lieu of foreclosure 1,466,000olp_MortgageDebtExtinguishedUponConveyanceOfPropertyForForeclosure  
Consolidation of real estate investments 2,633,000us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGain  
Purchase accounting allocations - intangible lease assets 2,518,000olp_NoncashAllocationOfIntangibleLeaseAssets 408,000olp_NoncashAllocationOfIntangibleLeaseAssets
Purchase accounting allocations - intangible lease liabilities 4,813,000olp_NoncashAllocationOfIntangibleLeaseLiability 371,000olp_NoncashAllocationOfIntangibleLeaseLiability
Restricted cash for tenant improvements and other reserve, net $ (272,000)olp_RestrictedCashForTenantImprovementsAndOtherReserve