XML 44 R31.htm IDEA: XBRL DOCUMENT
v3.22.4

SALES OF PROPERTIES (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
SALE OF PROPERTIES |
Schedule of sales of real estate | The following chart details the Company’s sales of real estate during 2022, 2021 and 2020 (amounts in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | Gain on sale | ​ | Mortgage | ​ | Prepayment
​ | ​ | ​ | ​ | Gross | ​ | of Real | ​ | Prepaid | ​ | Costs on
Description of Property | ​ | Date Sold | ​ | Sales Price | ​ | Estate, Net | ​ | on Sale | ​ | Debt
Wendy's restaurants - 4 properties | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Various cities, Pennsylvania | ​ | March 22, 2022 | ​ | $ | 10,000 | ​ | $ | 4,649 | ​ | $ | — | ​ | $ | —
Orlando Baking industrial property | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Columbus, Ohio (a) | ​ | May 2, 2022 | ​ | ​ | 8,500 | ​ | ​ | 6,925 | ​ | ​ | — | ​ | ​ | —
Havertys retail property | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Fayetteville, Georgia | ​ | June 17, 2022 | ​ | ​ | 4,800 | ​ | ​ | 1,125 | ​ | ​ | 1,563 | ​ | ​ | —
Vacant retail property | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Columbus, Ohio | ​ | August 8, 2022 | ​ | ​ | 8,300 | ​ | ​ | 4,063 | ​ | ​ | — | ​ | ​ | —
TOTALS FOR 2022 | ​ | $ | 31,600 | ​ | $ | 16,762 | (b) | $ | 1,563 | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Whole Foods retail property & parking lot | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
West Hartford, Connecticut | ​ | June 17, 2021 | ​ | $ | 40,510 | ​ | $ | 21,469 | ​ | $ | 15,403 | ​ | $ | 799
Vacant retail property | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Philadelphia, Pennsylvania | ​ | July 1, 2021 | ​ | ​ | 8,300 | ​ | ​ | 1,299 | (c) | ​ | 3,574 | ​ | ​ | 26
Wendys restaurant property | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Hanover, Pennsylvania | ​ | December 27, 2021 | ​ | ​ | 2,815 | ​ | ​ | 1,331 | ​ | ​ | 696 | ​ | ​ | 11
Wendys restaurant property | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Gettysburg, Pennsylvania | ​ | December 27, 2021 | ​ | ​ | 2,885 | ​ | ​ | 1,364 | ​ | ​ | 714 | ​ | ​ | 12
TOTALS FOR 2021 | ​ | $ | 54,510 | ​ | $ | 25,463 | (d) | $ | 20,387 | ​ | $ | 848
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Hobby Lobby retail property | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Onalaska, Wisconsin | ​ | February 11, 2020 | ​ | $ | 7,115 | ​ | $ | 4,252 | ​ | $ | 3,332 | ​ | $ | 290
CarMax retail property | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Knoxville, Tennessee | ​ | July 1, 2020 | ​ | ​ | 18,000 | ​ | ​ | 10,316 | ​ | ​ | 8,483 | ​ | ​ | 833
PetSmart retail property | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Houston, Texas | ​ | December 15, 2020 | ​ | ​ | 4,013 | (e) | ​ | 1,067 | ​ | ​ | n/a | ​ | ​ | n/a
Guitar Center retail property | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Houston, Texas | ​ | December 15, 2020 | ​ | ​ | 5,212 | (e) | ​ | 1,645 | ​ | ​ | n/a | ​ | ​ | n/a
TOTALS FOR 2020 | ​ | $ | 34,340 | ​ | $ | 17,280 | (f) | $ | 11,815 | ​ | $ | 1,123
(a) | This property was classified as held-for-sale in the accompanying consolidated balance sheet at December 31, 2021.
(b) | As a result of these sales, the Company wrote-off, as a reduction to Gain on sale of real estate, net, an aggregate of $519 of unbilled rent receivable and $4 of net unamortized intangible lease liabilities and assets.
(c) | This property was owned by a consolidated joint venture in which the Company held a 90% interest. The non-controlling interest’s share of the gain was $130.
(d) | As a result of these sales, the Company wrote-off, as a reduction to Gain on sale of real estate, net, an aggregate of $1,438 of unbilled rent receivables and $967 of unamortized intangible lease assets.
(e) | In 2020, in connection with these sales, the Company provided seller-financing of an aggregate of $4,613. The loan was repaid in full in 2021 (see Note 13).
(f) | As a result of these sales, the Company wrote-off, as a reduction to Gain on sale of real estate, net, an aggregate of $365 of unbilled rent receivables and $367 of unamortized intangible lease liabilities.
​

X
- Definition Tabular disclosure of sale of real estate property during the period. + References No definition available. + Details
Name: | olp_ScheduleOfSaleOfRealEstatePropertyTableTextBlock
Namespace Prefix: | olp_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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