XML 37 R26.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

SALES OF PROPERTIES (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2024
SALES OF PROPERTIES |
Schedule of sales of real estate | During the quarter ended March 31, 2024, the Company entered into contracts to sell the following properties (amounts in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Estimated Gain
​ | ​ | ​ | ​ | Held-for-sale | ​ | Date Sold/ | ​ | Gross | ​ | on Sale of Real
Description of Property | ​ | City, State | ​ | Date (a) | ​ | Estimated Sale | ​ | Sales Price | ​ | Estate Net (b)
Applebee's restaurant property | ​ | Kennesaw, Georgia | ​ | April 5, 2024 | ​ | May 6, 2024 | ​ | $ | 2,834 | ​ | $ | 1,000
Vacant retail property (c) | ​ | Kennesaw, Georgia | ​ | April 16, 2024 | ​ | June 28, 2024 | ​ | ​ | 6,700 | ​ | ​ | 1,900
FedEx industrial property | ​ | Miamisburg, Ohio | ​ | April 17, 2024 | ​ | May 8, 2024 | ​ | ​ | 2,793 | ​ | ​ | 1,500
Havertys retail property | ​ | Wichita, Kansas | ​ | April 21, 2024 | ​ | June 6, 2024 | ​ | ​ | 6,600 | ​ | ​ | 2,000
(a) | The Company has determined the held-for-sale criteria has been met as the buyers’ right to terminate the contracts without penalty expired on these dates.
​
(b) | Such gain will be recognized as Gain on sale of real estate, net, in the consolidated statements of income for the three and six months ending June 30, 2024.
​
(c) | In connection with this sale, the Company intends to payoff the mortgage on this property which had a balance of $4,434 as of March 31, 2024.

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