XML 77 R62.htm IDEA: XBRL DOCUMENT
v3.7.0.1

INCOME TAXES (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended
--- | --- | ---
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014
INCOME TAXES |  |  |  |  |  |  |  |  |  |  |
Period of disqualification of REIT status |  |  |  |  |  |  |  |  | 4 years |  |
Reconciliation between Financial Statement Net Income and Federal Taxable Income: |  |  |  |  |  |  |  |  |  |  |
Net income | $ 4,395 | $ 4,299 | $ 12,441 | $ 3,287 | $ 5,191 | $ 3,788 | $ 3,682 | $ 7,856 | $ 24,422 | $ 20,517 | $ 22,116
Straight-line rent adjustments |  |  |  |  |  |  |  |  | (2,261) | (996) | (1,480)
Book gain on sale - (in excess of) less than tax gain |  |  |  |  |  |  |  |  | (2,281) | (663) | 10,522
Rent received in advance, net |  |  |  |  |  |  |  |  | 584 | (42) | (180)
Adjustments for above/below market leases |  |  |  |  |  |  |  |  | (643) | (564) | (253)
Non-deductible portion of restricted stock expense |  |  |  |  |  |  |  |  | 1,193 | 614 | (149)
Federal excise tax, non-deductible |  |  |  |  |  |  |  |  | 6 | 174 | 302
Book depreciation in excess of tax depreciation |  |  |  |  |  |  |  |  | 4,248 | 3,799 | 2,970
Property acquisition costs - capitalized for tax purposes |  |  |  |  |  |  |  |  | 605 | 793 | 417
Impairment loss |  |  |  |  |  |  |  |  |  |  | 1,093
Other adjustments |  |  |  |  |  |  |  |  | (312) | (193) | 26
Federal taxable income |  |  |  |  |  |  |  |  | 25,561 | 23,439 | 35,384
Reconciliation between Cash Dividends Paid and Dividends Paid Deduction: |  |  |  |  |  |  |  |  |  |  |
Dividends paid |  |  |  |  |  |  |  |  | 29,135 | 26,179 | 24,117
Dividend reinvestment plan |  |  |  |  |  |  |  |  | 181 | 228 | 197
Dividends before adjustment for previous and current year |  |  |  |  |  |  |  |  | 29,316 | 26,407 | 24,314
Less: Spillover dividends designated to previous year |  |  |  |  |  |  |  |  | (15,209) | (18,177) | (7,107)
Plus: Dividends designated from following year |  |  |  |  |  |  |  |  | 11,454 | 15,209 | 18,177
Dividends paid deduction |  |  |  |  |  |  |  |  | $ 25,561 | $ 23,439 | $ 35,384
Maximum |  |  |  |  |  |  |  |  |  |  |
Reconciliation between Cash Dividends Paid and Dividends Paid Deduction: |  |  |  |  |  |  |  |  |  |  |
Percentage of discount on common stock purchased through the dividend reinvestment plan |  |  |  |  |  |  |  |  | 5.00% |  |

X
- Definition Cash dividends paid for reconciliation to dividends paid deduction. + References No definition available. + Details
Name: | olp_CashDividendsPaidReconciliation
Namespace Prefix: | olp_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Represents the amount of dividends paid to stockholders that are deducted from the entity's taxable income. + References No definition available. + Details
Name: | olp_DividendPaidDeductionFromTaxableIncome
Namespace Prefix: | olp_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Represents the amount of discount on common stock purchased through the dividend reinvestment plan. + References No definition available. + Details
Name: | olp_DividendReinvestmentPlanCommonStockDiscountOnShares
Namespace Prefix: | olp_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Represents the amount of dividends before adjustments for dividends designated to previous year and designated from following year. + References No definition available. + Details
Name: | olp_DividendsBeforeAdjustmentsForPreviousAndCurrentYear
Namespace Prefix: | olp_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Represents the amount of dividends designated from the following year. + References No definition available. + Details
Name: | olp_DividendsDesignatedFromFollowingYear
Namespace Prefix: | olp_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Represents the amount of dividends designated to the previous year. + References No definition available. + Details
Name: | olp_DividendsDesignatedToPreviousYear
Namespace Prefix: | olp_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Represents the percentage of discount from market price on common stock purchased through the dividend reinvestment plan. + References No definition available. + Details
Name: | olp_PercentageOfDiscountOnCommonStockPurchasedThroughDividendReinvestmentPlan
Namespace Prefix: | olp_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | olp_ReconciliationOfCashDividendsPaidToDividendsPaidDeductionAbstract
Namespace Prefix: | olp_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | olp_ReconciliationOfIncomeFromBookBasisToTaxBasisAbstract
Namespace Prefix: | olp_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents the amount by which depreciation and amortization expense recognized on the consolidated statements of operations for the period was greater than the amount recognized for tax purposes for the period. + References No definition available. + Details
Name: | olp_ReconciliationOfIncomeFromBookBasisToTaxBasisDepreciationAndAmortization
Namespace Prefix: | olp_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Represents the federal excise tax, which is not deductible for tax purpose. + References No definition available. + Details
Name: | olp_ReconciliationOfIncomeFromBookBasisToTaxBasisFederalExciseTax
Namespace Prefix: | olp_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Represents the financial statement adjustment for above/below market leases. + References No definition available. + Details
Name: | olp_ReconciliationOfIncomeFromBookBasisToTaxBasisFinancialStatementAdjustmentForAboveAndBelowMarketLeases
Namespace Prefix: | olp_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Represents the amount by which gain on sales of properties recognized on the consolidated statements of operations for the period was greater than the amount recognized for tax purposes for the period. + References No definition available. + Details
Name: | olp_ReconciliationOfIncomeFromBookBasisToTaxBasisGainOnSalesOfProperties
Namespace Prefix: | olp_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Represents the consolidated taxable income of the entity for the period. + References No definition available. + Details
Name: | olp_ReconciliationOfIncomeFromBookBasisToTaxBasisProfitLossTaxBasis
Namespace Prefix: | olp_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Represents the amount of acquisition costs related to the property, which is capitalized for tax purpose during the period. + References No definition available. + Details
Name: | olp_ReconciliationOfIncomeFromBookBasisToTaxBasisPropertyAcquisitionCostCapitalizedForTaxPurpose
Namespace Prefix: | olp_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Represents the current period straight line rent accrual included in book income, but not in taxable income. + References No definition available. + Details
Name: | olp_ReconciliationOfIncomeFromBookBasisToTaxBasisRentAdjustment
Namespace Prefix: | olp_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Represents the part of advance rent, which has not been considered as book income for the current period but the same has been considered as taxable income. + References No definition available. + Details
Name: | olp_ReconciliationOfIncomeFromBookBasisToTaxBasisRentalIncomeAdvanceNet
Namespace Prefix: | olp_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Represents the subsequent period during which the entity would be disqualified as a real estate investment trust, if during any tax year the entity fails to qualify as a real estate investment trust. + References No definition available. + Details
Name: | olp_SubsequentDisqualificationPeriodIfFailedToQualifyAsREIT
Namespace Prefix: | olp_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to nondeductible impairment loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32687-109319 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32698-109319 + Details
Name: | us-gaap_IncomeTaxReconciliationNondeductibleExpenseImpairmentLosses
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to nondeductible equity-based compensation costs. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32687-109319 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32698-109319 + Details
Name: | us-gaap_IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to other adjustments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32687-109319 + Details
Name: | us-gaap_IncomeTaxReconciliationOtherAdjustments
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Net Income -URI http://asc.fasb.org/extlink&oid=51831255 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=66902209&loc=d3e3602-108585 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(22)) -URI http://asc.fasb.org/extlink&oid=6879574&loc=d3e536633-122882 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(18)) -URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Other Comprehensive Income -URI http://asc.fasb.org/extlink&oid=51831270 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(20)) -URI http://asc.fasb.org/extlink&oid=63488584&loc=d3e20235-122688 + Details
Name: | us-gaap_NetIncomeLoss
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Details
Name: | us-gaap_RangeAxis=us-gaap_MaximumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |