ONE LIBERTY PROPERTIES, INC. AND SUBSIDIARIES

Schedule III—Consolidated Real Estate and Accumulated Depreciation

December 31, 2018

(Amounts in Thousands)


								Cost
								Capitalized		Gross Amount at Which Carried
				Initial Cost to Company				Subsequent to		at December 31, 2018
						Building and		Acquisition				Building &				Accumulated		Date of	Date
Type	Location	Encumbrances		Land		Improvements		Improvements		Land		Improvements		Total		Depreciation (1)		Construction	Acquired
Health & Fitness	Tucker, GA	$	—	$	807	$	3,027	$	3,420	$	807	$	6,447	$	7,254	$	2,461	1988	2002
Health & Fitness	Hamilton, OH		4,682		1,483		5,953		—		1,483		5,953		7,436		1,268	2008	2011
Health & Fitness	Secaucus, NJ		8,599		5,449		9,873		—		5,449		9,873		15,322		1,502	1986	2012
Industrial	Columbus, OH		—		435		1,703		27		435		1,730		2,165		779	1979	1995
Industrial	West Palm Beach, FL		—		181		724		65		181		789		970		368	1973	1998
Industrial	New Hyde Park, NY		2,493		182		728		281		182		1,009		1,191		413	1960	1999
Industrial	Ronkonkoma, NY		5,708		1,042		4,171		2,898		1,042		7,069		8,111		2,392	1986	2000
Industrial	Hauppauge, NY		26,729		1,951		10,954		8,773		1,951		19,727		21,678		5,844	1982	2000
Industrial	Melville, NY		2,666		774		3,029		975		774		4,004		4,778		1,433	1982	2003
Industrial	Saco, ME		5,568		1,027		3,623		2,050		1,027		5,673		6,700		1,204	2001	2006
Industrial	Baltimore, MD (2)		19,992		6,474		25,282		—		6,474		25,282		31,756		7,611	1960	2006
Industrial	Durham, NC		2,705		1,043		2,404		28		1,043		2,432		3,475		539	1991	2011
Industrial	Pinellas Park, FL		2,320		1,231		1,669		—		1,231		1,669		2,900		311	1995	2012
Industrial	Miamisburg, OH		—		165		1,348		12		165		1,360		1,525		239	1987	2012
Industrial	Fort Mill, SC		8,034		1,840		12,687		55		1,840		12,742		14,582		1,923	1992	2013
Industrial	Indianapolis, IN		5,764		1,224		6,935		—		1,224		6,935		8,159		1,228	1997	2013
Industrial	Fort Mill, SC		24,353		1,804		33,650		—		1,804		33,650		35,454		6,200	1997	2013
Industrial	New Hope, MN		4,142		881		6,064		81		881		6,145		7,026		643	1967	2014
Industrial	Louisville, KY		2,291		578		3,727		4		578		3,731		4,309		372	1974	2015
Industrial	Louisville, KY		—		51		230		—		51		230		281		22	1974	2015
Industrial	McCalla, AL		10,043		1,588		14,682		—		1,588		14,682		16,270		1,295	2003	2015
Industrial	St. Louis, MO		11,386		3,728		13,006		695		3,728		13,701		17,429		1,197	1969	2015
Industrial	Greenville, SC		4,954		693		6,893		16		693		6,909		7,602		503	1997	2016
Industrial	Greenville, SC		5,504		528		8,074		50		528		8,124		8,652		586	2000	2016
Industrial	El Paso, TX		14,087		3,691		17,904		324		3,691		18,228		21,919		1,216	1997	2016
Industrial	Lebanon, TN		21,288		2,094		30,039		14		2,094		30,053		32,147		1,782	1996	2016
Industrial	Huntersville, NC		4,985		1,046		6,674		—		1,046		6,674		7,720		286	2014	2017
Industrial	Pittston, PA		6,964		999		9,922		250		999		10,172		11,171		417	1990	2017
Industrial	Ankeny, IA		8,504		1,351		11,607		—		1,351		11,607		12,958		459	2016	2017
Industrial	Memphis, TN		5,106		140		7,952		—		140		7,952		8,092		250	1979	2017
Industrial	Pennsburg, PA		8,179		1,776		11,126		—		1,776		11,126		12,902		244	1986	2018
Industrial	Plymouth, MN		3,313		1,121		4,429		—		1,121		4,429		5,550		63	1978	2018
Industrial	Englewood, CO		—		1,562		11,300		—		1,562		11,300		12,862		61	2013	2018
Industrial	Moorestown, NJ		3,993		1,822		5,056		—		1,822		5,056		6,878		17	1990	2018
Industrial	Moorestown, NJ		—		1,443		10,898		—		1,443		10,898		12,341		35	1972	2018
Industrial	Bakersfield, CA		—		1,987		9,997		—		1,987		9,997		11,984		11	1980	2018
Industrial	Green Park, MO		—		1,421		7,833		—		1,421		7,833		9,254		8	2008	2018
Industrial	Greenville, SC		—		186		6,407		—		186		6,407		6,593		7	2008	2018
Industrial	Joppa, MD		9,336		3,815		8,142		1,473		3,815		9,615		13,430		1,139	1994	2014
Office	Brooklyn, NY		2,971		1,381		5,447		2,874		1,381		8,321		9,702		3,856	1973	1998
Other	Round Rock, TX		13,518		1,678		16,670		—		1,678		16,670		18,348		2,261	2012	2013
Other	Wheaton, IL		—		10,536		—		—		10,536		—		10,536		—	N/A	2016
Other	Beachwood, OH		—		13,901		—		—		13,901		—		13,901		—	N/A	2016
Restaurant	Hauppauge, NY		—		725		2,963		—		725		2,963		3,688		972	1992	2005
Restaurant	Palmyra, PA		712		650		650		—		650		650		1,300		137	1981	2010


								Cost
								Capitalized		Gross Amount at Which Carried
				Initial Cost to Company				Subsequent to		at December 31, 2018
						Building and		Acquisition				Building &				Accumulated		Date of	Date
Type	Location	Encumbrances		Land		Improvements		Improvements		Land		Improvements		Total		Depreciation (1)		Construction	Acquired
Restaurant	Reading, PA		703		655		625		—		655		625		1,280		132	1981	2010
Restaurant	Reading, PA		692		618		643		—		618		643		1,261		137	1983	2010
Restaurant	Hanover, PA		778		736		686		—		736		686		1,422		144	1992	2010
Restaurant	Gettysburg, PA		798		754		704		—		754		704		1,458		147	1991	2010
Restaurant	Trexlertown, PA		678		800		439		—		800		439		1,239		92	1994	2010
Restaurant	Carrollton, GA		1,521		796		1,458		—		796		1,458		2,254		293	1996	2012
Restaurant	Cartersville, GA		1,439		786		1,346		—		786		1,346		2,132		288	1995	2012
Restaurant	Kennesaw, GA		1,179		702		916		—		702		916		1,618		183	1989	2012
Restaurant	Lawrenceville, GA		1,132		866		899		—		866		899		1,765		224	1988	2012
Restaurant	Concord, NC		1,486		999		1,076		—		999		1,076		2,075		175	2000	2013
Restaurant	Myrtle Beach, SC		1,486		1,102		1,161		—		1,102		1,161		2,263		198	1978	2013
Restaurant	Greensboro, NC		3,167		1,770		1,237		—		1,770		1,237		3,007		231	1983	2013
Restaurant	Richmond, VA		—		1,680		1,341		—		1,680		1,341		3,021		166	1983	2013
Restaurant	Indianapolis, IN		903		853		1,465		—		853		1,465		2,318		211	1982	2014
Retail	Seattle, WA		—		201		189		35		201		224		425		149	1986	1987
Retail	Rosenberg, TX		—		216		863		66		216		929		1,145		526	1994	1995
Retail	Ft. Myers, FL		—		1,013		4,054		—		1,013		4,054		5,067		2,242	1995	1996
Retail	Houston, TX		—		396		1,583		30		396		1,613		2,009		843	1997	1998
Retail	Selden, NY		2,655		572		2,287		150		572		2,437		3,009		1,192	1997	1999
Retail	Batavia, NY		—		515		2,061		—		515		2,061		2,576		1,024	1998	1999
Retail	Champaign, IL		1,500		791		3,165		315		791		3,480		4,271		1,644	1985	1999
Retail	El Paso, TX		10,795		2,821		11,123		2,544		2,821		13,667		16,488		6,083	1974	2000
Retail	Somerville, MA		—		510		1,993		24		510		2,017		2,527		799	1993	2003
Retail	Newark, DE		1,635		935		3,643		43		935		3,686		4,621		1,415	1996	2003
Retail	Knoxville, TN		8,868		2,290		8,855		—		2,290		8,855		11,145		3,275	2003	2004
Retail	Onalaska, WI		3,442		753		3,099		—		753		3,099		3,852		1,094	1994	2004
Retail	Hyannis, MA		—		802		2,324		—		802		2,324		3,126		637	1998	2008
Retail	Marston Mills, MA		—		461		2,313		—		461		2,313		2,774		629	1998	2008
Retail	Everett, MA		—		1,935		—		—		1,935		—		1,935		—	N/A	2008
Retail	Kennesaw, GA		5,228		1,501		4,349		1,138		1,501		5,487		6,988		1,357	1995	2008
Retail	Royersford, PA		19,750		19,538		3,150		424		19,538		3,574		23,112		807	2001	2010
Retail	Monroeville, PA		—		450		863		—		450		863		1,313		186	1994	2010
Retail	Houston, TX		—		1,962		1,540		—		1,962		1,540		3,502		359	2006	2010
Retail	Houston, TX		—		2,002		1,800		—		2,002		1,800		3,802		413	2009	2010
Retail	Bolingbrook, IL		—		834		1,887		101		834		1,988		2,822		429	2001	2011
Retail	Crystal Lake, IL		1,615		615		1,899		—		615		1,899		2,514		459	1997	2011
Retail	Lawrence, KS		—		134		938		22		134		960		1,094		163	1915	2012
Retail	Greensboro, NC		1,328		1,046		1,552		29		1,046		1,581		2,627		229	2002	2014
Retail	Highlands Ranch, CO		—		2,361		2,924		296		2,361		3,220		5,581		396	1995	2014
Retail	Woodbury, MN		2,876		1,190		4,003		—		1,190		4,003		5,193		528	2006	2014
Retail	Cuyahoga Falls, OH		1,083		71		1,371		—		71		1,371		1,442		92	2004	2016
Retail	Hilliard, OH		959		300		1,077		—		300		1,077		1,377		73	2007	2016
Retail	Port Clinton, OH		928		52		1,187		—		52		1,187		1,239		81	2005	2016
Retail	South Euclid, OH		1,052		230		1,566		—		230		1,566		1,796		104	1975	2016
Retail	St Louis Park, MN		—		3,388		13,088		141		3,388		13,229		16,617		837	1962	2016


								Cost
								Capitalized		Gross Amount at Which Carried
				Initial Cost to Company				Subsequent to		at December 31, 2018
						Building and		Acquisition				Building &				Accumulated		Date of	Date
Type	Location	Encumbrances		Land		Improvements		Improvements		Land		Improvements		Total		Depreciation (1)		Construction	Acquired
Retail	Deptford, NJ		2,645		572		1,779		705		572		2,484		3,056		657	1981	2012
Retail	Cape Girardeau, MO		1,150		545		1,547		—		545		1,547		2,092		273	1994	2012
Retail	Clemmons, NC		1,865		2,564		3,293		—		2,564		3,293		5,857		678	1993	2013
Retail	Littleton, CO		10,770		6,005		11,272		312		6,005		11,584		17,589		1,355	1985	2015
Retail—Supermarket	West Hartford, CT		16,716		9,296		4,813		261		9,296		5,074		14,370		1,201	2005	2010
Retail—Supermarket	West Hartford, CT		—		2,881		94		326		2,881		420		3,301		177	N/A	2010
Retail—Supermarket	Philadelphia, PA		4,122		1,793		5,640		80		1,793		5,720		7,513		674	1992	2014
Retail—Furniture	Columbus, OH		—		1,445		5,431		460		1,445		5,891		7,336		3,062	1996	1997
Retail—Furniture	Duluth, GA (3)		1,485		778		3,436		—		778		3,436		4,214		1,092	1987	2006
Retail—Furniture	Fayetteville, GA (3)		1,864		976		4,308		—		976		4,308		5,284		1,369	1987	2006
Retail—Furniture	Wichita, KS (3)		2,270		1,189		5,248		—		1,189		5,248		6,437		1,668	1996	2006
Retail—Furniture	Lexington, KY (3)		1,526		800		3,532		—		800		3,532		4,332		1,122	1999	2006
Retail—Furniture	Bluffton, SC (3)		1,124		589		2,600		—		589		2,600		3,189		826	1994	2006
Retail—Furniture	Amarillo, TX (3)		1,642		860		3,810		—		860		3,810		4,670		1,210	1996	2006
Retail—Furniture	Austin, TX (3)		3,029		1,587		7,010		—		1,587		7,010		8,597		2,227	2001	2006
Retail—Furniture	Tyler, TX (3)		1,968		1,031		4,554		—		1,031		4,554		5,585		1,447	2001	2006
Retail—Furniture	Newport News, VA (3)		1,434		751		3,316		—		751		3,316		4,067		1,054	1995	2006
Retail—Furniture	Richmond, VA (3)		1,654		867		3,829		—		867		3,829		4,696		1,217	1979	2006
Retail—Furniture	Virginia Beach, VA (3)		1,630		854		3,770		—		854		3,770		4,624		1,198	1995	2006
Retail—Furniture	Gurnee, IL		—		834		3,635		—		834		3,635		4,469		1,117	1994	2006
Retail—Furniture	Naples, FL		2,010		3,070		2,846		189		3,070		3,035		6,105		784	1992	2008
Retail—Office Supply	Lake Charles, LA (4)		4,994		1,167		4,669		599		1,167		5,268		6,435		2,187	1998	2002
Retail—Office Supply	Athens, GA (4)		2,697		1,130		4,340		—		1,130		4,340		5,470		1,587	2003	2004
Retail—Office Supply	Chicago, IL (4)		3,637		3,877		2,256		—		3,877		2,256		6,133		580	1994	2008
Retail—Office Supply	Cary, NC (4)		3,068		1,129		3,736		—		1,129		3,736		4,865		961	1995	2008
Retail—Office Supply	Eugene, OR (4)		2,732		1,952		2,096		—		1,952		2,096		4,048		539	1994	2008
Retail—Office Supply	El Paso, TX (4)		2,387		1,035		2,700		—		1,035		2,700		3,735		695	1993	2008
Theater	Greensboro, NC		—		—		8,328		3,000		—		11,328		11,328		7,896	1999	2004
Theater	Indianapolis, IN		4,112		3,099		5,225		19		3,099		5,244		8,343		591	1997	2014
		$	423,096	$	204,162	$	589,307	$	35,674	$	204,162	$	624,981	$	829,143	$	123,684

Note 1—Depreciation is provided over the estimated useful lives of the buildings and improvements, which range from 3 to 40 years.

Note 2—Upon purchase of the property in December 2006, a $416,000 rental income reserve was posted by the seller for the Company’s benefit, since the property was not producing sufficient rent at the time of acquisition. The Company recorded the receipt of this rental reserve as a reduction to land and building.

Note 3—These 11 properties are retail furniture stores covered by one master lease and one loan that is secured by cross-collateralized mortgages. They are located in six states (Georgia, Kansas, Kentucky, South Carolina, Texas and Virginia).

Note 4—These six properties are retail office supply stores net leased to the same tenant, pursuant to separate leases. Five of these leases contain cross default provisions. They are located in six states (Illinois, Louisiana, North Carolina, Texas, Georgia and Oregon).

ONE LIBERTY PROPERTIES, INC. AND SUBSIDIARIES

Notes to Schedule III

Consolidated Real Estate and Accumulated Depreciation

(a) Reconciliation of “Real Estate and Accumulated Depreciation”

(Amounts in Thousands)


	Year Ended December 31,
	2018		2017		2016
Investment in real estate:
Balance, beginning of year	$	775,327	$	748,065	$	662,182
Addition: Land, buildings and improvements		86,117		47,207		121,564
Deduction: Properties sold/conveyed		(32,301)		(19,792)		(35,681)
Deduction: Impairment loss		—		(153)		—
Balance, end of year	$	829,143	$	775,327	$	748,065
		(b)
Accumulated depreciation:
Balance, beginning of year	$	108,953	$	96,852	$	87,801
Addition: Depreciation		16,615		15,689		14,247
Deduction: Accumulated depreciation related to properties sold/conveyed		(1,884)		(3,588)		(5,196)
Balance, end of year	$	123,684	$	108,953	$	96,852

(b) At December 31, 2018, the aggregate cost for federal income tax purposes is approximately $17,150 greater than the Company’s recorded values.