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REAL ESTATE INVESTMENTS AND MINIMUM FUTURE RENTALS (Tables)

12 Months Ended

Dec. 31, 2016

REAL ESTATE INVESTMENTS AND MINIMUM FUTURE RENTALS

Schedule of the Company's acquisitions of real estate

  The following charts detail the Company's acquisitions of real estate and an interest in a joint venture during 2016 and 2015 (amounts in thousands):

Description of Property		Date Acquired		Contract Purchase Price			Terms of Payment(a)		Third Party Real Estate Acquisition Costs(b)
Multi-tenant industrial facility, Greenville, South Carolina		March 30, 2016		$	8,100		All cash		$	80
Multi-tenant industrial facility, Greenville, South Carolina		March 30, 2016			8,950		All cash			81
Toro distribution facility, El Paso, Texas		June 3, 2016			23,695		All cash			72
4 Advanced Auto retail stores, Ohio		June 16, 2016			6,523		Cash and $4,300 mortgage			80
Land—The Briarbrook Village Apartments, Wheaton, Illinois		August 2, 2016			10,530		All cash			—	(c)
Burlington Coat and Micro Center retail stores, St. Louis Park, Minnesota		August 12, 2016			14,150		All cash			74
Land—The Vue Apartments, Beachwood, Ohio		August 16, 2016			13,896		All cash			—	(d)
Famous Footwear distribution facility, Lebanon, Tennessee		September 1, 2016			32,734		Cash and $21,288 mortgage			195
Other costs(e)					—					14
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Totals for 2016				$	118,578				$	596
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      The following charts detail the Company's acquisitions of real estate and an interest in a joint venture during 2016 and 2015 (amounts in thousands):

Description of Property		Date Acquired		Contract Purchase Price			Terms of Payment(a)		Third Party Real Estate Acquisition Costs(b)
Marston Park Plaza retail stores, Littleton, Colorado(f)		February 25, 2015		$	17,485		Cash and $11,853 mortgage		$	184
Interline Brands distribution facility, Louisville, Kentucky		March 18, 2015			4,400		Cash and $2,640 mortgage			48
Land—The Meadows Apartments, Lakemoor, Illinois		March 24, 2015			9,300		All cash			—	(g)
Joint venture interest—Shopko retail store, Lincoln, Nebraska(h)		March 31, 2015			6,300		All cash			12
Archway Roofing industrial facility, Louisville, Kentucky		May 20, 2015			300		All cash			15
JCIM industrial facility, McCalla, Alabama		July 28, 2015			16,618		All cash			45
FedEx & CHEP USA distribution facility, Delport (St. Louis), Missouri		September 25, 2015			19,050		Cash and $12,383 mortgage			81
Other costs(e)					—					64
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Totals for 2015				$	73,453				$	449
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(a)	All of the mortgages listed were obtained simultaneously with the acquisition of the applicable property.
(b)	Included as an expense in the accompanying consolidated statements of income.
(c)	Transaction costs aggregating $6 incurred with this asset acquisition were capitalized.
(d)	Transaction costs aggregating $5 incurred with this asset acquisition were capitalized.
(e)	Costs incurred for properties purchased in the previous year, potential acquisitions and transactions that were not consummated.
(f)	Represents 100% of the consolidated joint venture in which the Company has a 90% interest. The non-controlling interest contributed $663 for its 10% interest, which was equal to the fair value of such interest at the date of purchase.
(g)	Transaction costs aggregating $292 incurred with this asset acquisition were capitalized.
(h)	The Company purchased its unconsolidated joint venture partner's interest. See "—Purchase of Partner's 50% Interest".

Schedule of allocation of purchase price for the company's acquisitions of real estate

        The following charts detail the allocation of the purchase price for the Company's acquisitions of real estate and an interest in a joint venture during 2016 and 2015 (amounts in thousands):

											Intangible Lease
								Building Improvements
Description of Property		Land			Building						Asset			Liability			Total
Multi-tenant industrial facility, Greenville, South Carolina		$	693		$	6,718		$	175		$	514		$	—		$	8,100
Multi-tenant industrial facility, Greenville, South Carolina			528			7,893			181			441			(93	)		8,950
Toro distribution facility, El Paso, Texas			3,691			17,525			379			2,100			—			23,695
4 Advanced Auto retail stores, Ohio			653			5,012			189			912			(243	)		6,523
Land—The Briarbrook Village Apartments, Wheaton, Illinois(a)			10,536			—			—			—			—			10,536
Burlington Coat and Micro Center retail stores, St. Louis Park, Minnesota			3,388			12,632			456			651			(2,977	)		14,150
Land—The Vue Apartments, Beachwood, Ohio(b)			13,901			—			—			—			—			13,901
Famous Footwear distribution facility, Lebanon, Tennessee			2,094			29,436			603			3,576			(2,975	)		32,734
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Totals for 2016		$	35,484		$	79,216		$	1,983		$	8,194		$	(6,288	)	$	118,589
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Marston Park Plaza retail stores, Littleton, Colorado		$	6,005		$	10,109		$	700		$	1,493		$	(822	)	$	17,485
Interline Brands distribution facility, Louisville, Kentucky			578			3,622			105			95			—			4,400
Land—The Meadows Apartments, Lakemoor, Illinois(c)			9,592			—			—			—			—			9,592
Joint venture interest—Shopko retail store, Lincoln, Nebraska(d)			3,768			11,262			570			922			(3,929	)		12,593
Archway Roofing industrial facility, Louisville, Kentucky			51			221			9			19			—			300
JCIM industrial facility, McCalla, Alabama			1,588			14,503			179			470			(122	)		16,618
FedEx & CHEP USA distribution facility, Delport, Missouri			3,728			12,456			550			2,777			(461	)		19,050
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Subtotals			25,310			52,173			2,113			5,776			(5,334	)		80,038
Other(e)			12			19			—			—			(31	)		—
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Totals for 2015		$	25,322		$	52,192		$	2,113		$	5,776		$	(5,365	)	$	80,038
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(a)	Includes capitalized transaction costs of $6 incurred with this asset acquisition.
(b)	Includes capitalized transaction costs of $5 incurred with this asset acquisition.
(c)	Includes capitalized transaction costs of $292 incurred with this asset acquisition.
(d)	Fair value of the assets previously owned by an unconsolidated joint venture of the Company. The Company owns 100% of this property as a result of the purchase of its partner's interest on March 31, 2015. See "—Purchase of Partner's 50% Interest".
(e)	Adjustments to finalize the purchase price allocation relating to a property purchased in October 2014.

Schedule of amortization of intangible lease assets as a result of acquired above market leases

       The unamortized balance of intangible lease assets as a result of acquired above market leases at December 31, 2016 will be deducted from rental income through 2032 as follows (amounts in thousands):

2017		$	765
2018			688
2019			586
2020			560
2021			554
Thereafter			1,534
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Total		$	4,687
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Schedule of amortization of intangible lease liabilities as a result of acquired below market leases

        The unamortized balance of intangible lease liabilities as a result of acquired below market leases at December 31, 2016 will be added to rental income through 2055 as follows (amounts in thousands):

2017		$	1,763
2018			1,798
2019			1,785
2020			1,633
2021			1,598
Thereafter			10,703
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Total		$	19,280
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Schedule of amortization of origination costs associated with in-place leases

        The unamortized balance of origination costs associated with in-place leases at December 31, 2016 will be charged to amortization expense through 2055 as follows (amounts in thousands):

2017		$	3,910
2018			3,676
2019			3,288
2020			3,054
2021			2,765
Thereafter			11,265
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Total		$	27,958
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Schedule of minimum future contractual rents to be received

        The minimum future contractual rents to be received over the next five years and thereafter on non-cancellable operating leases in effect at December 31, 2016 are as follows (amounts in thousands):

2017		$	61,749
2018			60,473
2019			58,200
2020			55,632
2021			52,465
Thereafter			232,241
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Total		$	520,760
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Schedule of business acquisition pro forma information

		Year Ended December 31,
(Unaudited) (amounts in thousands, except per share data)		2016			2015
Pro forma revenues		$	74,612		$	73,210
Pro forma net income attributable to One Liberty Properties, Inc.			25,620			21,571
Pro forma weighted average number of common shares outstanding:
Basic			16,768			15,971
Diluted			16,882			16,079
Pro forma per common share attributable to common stockholders:
Basic		$	1.47		$	1.23
Diluted		$	1.46		$	1.23

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