<?xml version="1.0" encoding="utf-8"?>
<!--XBRL document created with Toppan Merrill Bridge  11.4.0.1 -->
<!--Based on XBRL 2.1-->
<!--Created on: 8/5/2026 5:56:44 PM-->
<!--Modified on: 8/5/2026 5:56:44 PM-->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xlink="http://www.w3.org/1999/xlink">
  <roleRef xlink:type="simple" xlink:href="olp-20260630.xsd#StatementConsolidatedBalanceSheets" roleURI="http://www.onelibertyproperties.com/role/StatementConsolidatedBalanceSheets" xmlns="http://www.xbrl.org/2003/linkbase" />
  <roleRef xlink:type="simple" xlink:href="olp-20260630.xsd#StatementConsolidatedStatementsOfIncome" roleURI="http://www.onelibertyproperties.com/role/StatementConsolidatedStatementsOfIncome" xmlns="http://www.xbrl.org/2003/linkbase" />
  <roleRef xlink:type="simple" xlink:href="olp-20260630.xsd#StatementConsolidatedStatementsOfComprehensiveIncome" roleURI="http://www.onelibertyproperties.com/role/StatementConsolidatedStatementsOfComprehensiveIncome" xmlns="http://www.xbrl.org/2003/linkbase" />
  <roleRef xlink:type="simple" xlink:href="olp-20260630.xsd#StatementConsolidatedStatementsOfCashFlows" roleURI="http://www.onelibertyproperties.com/role/StatementConsolidatedStatementsOfCashFlows" xmlns="http://www.xbrl.org/2003/linkbase" />
  <roleRef xlink:type="simple" xlink:href="olp-20260630.xsd#StatementConsolidatedStatementsOfCashFlowsParenthetical" roleURI="http://www.onelibertyproperties.com/role/StatementConsolidatedStatementsOfCashFlowsParenthetical" xmlns="http://www.xbrl.org/2003/linkbase" />
  <roleRef xlink:type="simple" xlink:href="olp-20260630.xsd#DisclosureLeasesAsLessorDetails" roleURI="http://www.onelibertyproperties.com/role/DisclosureLeasesAsLessorDetails" xmlns="http://www.xbrl.org/2003/linkbase" />
  <roleRef xlink:type="simple" xlink:href="olp-20260630.xsd#DisclosureLeasesAsLessorMinimumFutureRentsDetails" roleURI="http://www.onelibertyproperties.com/role/DisclosureLeasesAsLessorMinimumFutureRentsDetails" xmlns="http://www.xbrl.org/2003/linkbase" />
  <roleRef xlink:type="simple" xlink:href="olp-20260630.xsd#DisclosureLeasesAsLesseeMinimumFutureLeasePaymentsDetails" roleURI="http://www.onelibertyproperties.com/role/DisclosureLeasesAsLesseeMinimumFutureLeasePaymentsDetails" xmlns="http://www.xbrl.org/2003/linkbase" />
  <roleRef xlink:type="simple" xlink:href="olp-20260630.xsd#DisclosureLeasesAsLesseeMinimumFutureLeasePaymentsDetailsCalc2" roleURI="http://www.onelibertyproperties.com/role/DisclosureLeasesAsLesseeMinimumFutureLeasePaymentsDetailsCalc2" xmlns="http://www.xbrl.org/2003/linkbase" />
  <roleRef xlink:type="simple" xlink:href="olp-20260630.xsd#DisclosureRealEstateAcquisitionsPurchasePriceAllocationDetails" roleURI="http://www.onelibertyproperties.com/role/DisclosureRealEstateAcquisitionsPurchasePriceAllocationDetails" xmlns="http://www.xbrl.org/2003/linkbase" />
  <roleRef xlink:type="simple" xlink:href="olp-20260630.xsd#DisclosureDebtObligationsMortgagePayableDetails" roleURI="http://www.onelibertyproperties.com/role/DisclosureDebtObligationsMortgagePayableDetails" xmlns="http://www.xbrl.org/2003/linkbase" />
  <roleRef xlink:type="simple" xlink:href="olp-20260630.xsd#DisclosureDebtObligationsPrincipalRepaymentsDetails" roleURI="http://www.onelibertyproperties.com/role/DisclosureDebtObligationsPrincipalRepaymentsDetails" xmlns="http://www.xbrl.org/2003/linkbase" />
  <roleRef xlink:type="simple" xlink:href="olp-20260630.xsd#DisclosureEarningsPerCommonShareReconciliationDetails" roleURI="http://www.onelibertyproperties.com/role/DisclosureEarningsPerCommonShareReconciliationDetails" xmlns="http://www.xbrl.org/2003/linkbase" />
  <roleRef xlink:type="simple" xlink:href="olp-20260630.xsd#DisclosureEarningsPerCommonShareSharesOfCommonStockUnderlyingRsusDetails" roleURI="http://www.onelibertyproperties.com/role/DisclosureEarningsPerCommonShareSharesOfCommonStockUnderlyingRsusDetails" xmlns="http://www.xbrl.org/2003/linkbase" />
  <link:arcroleRef arcroleURI="https://xbrl.org/2023/arcrole/summation-item" xlink:type="simple" xlink:href="https://www.xbrl.org/2023/calculation-1.1.xsd#summation-item" />
  <calculationLink xlink:role="http://www.onelibertyproperties.com/role/StatementConsolidatedBalanceSheets" xlink:type="extended" xlink:title="995200100 - Statement - CONSOLIDATED BALANCE SHEETS" xmlns="http://www.xbrl.org/2003/linkbase">
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_Assets" xlink:label="Assets" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RealEstateInvestmentPropertyNet" xlink:label="us-gaap_RealEstateInvestmentPropertyNet_639215494010594986" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="Assets" xlink:to="us-gaap_RealEstateInvestmentPropertyNet_639215494010594986" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RealEstateInvestmentPropertyAtCost" xlink:label="us-gaap_RealEstateInvestmentPropertyAtCost_639215494010594986" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_RealEstateInvestmentPropertyNet_639215494010594986" xlink:to="us-gaap_RealEstateInvestmentPropertyAtCost_639215494010594986" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_Land" xlink:label="us-gaap_Land_639215494010594986" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_RealEstateInvestmentPropertyAtCost_639215494010594986" xlink:to="us-gaap_Land_639215494010594986" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentBuildingAndBuildingImprovements" xlink:label="us-gaap_InvestmentBuildingAndBuildingImprovements_639215494010594986" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_RealEstateInvestmentPropertyAtCost_639215494010594986" xlink:to="us-gaap_InvestmentBuildingAndBuildingImprovements_639215494010594986" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation" xlink:label="us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_639215494010594986" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_RealEstateInvestmentPropertyNet_639215494010594986" xlink:to="us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_639215494010594986" order="2" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InventoryRealEstateHeldForSale" xlink:label="us-gaap_InventoryRealEstateHeldForSale_639215494010594986" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="Assets" xlink:to="us-gaap_InventoryRealEstateHeldForSale_639215494010594986" order="2" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_639215494010600824" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="Assets" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_639215494010600824" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DeferredRentReceivablesNet" xlink:label="us-gaap_DeferredRentReceivablesNet_639215494010600824" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="Assets" xlink:to="us-gaap_DeferredRentReceivablesNet_639215494010600824" order="4" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_UnamortizedIntangibleLeaseAssets" xlink:label="olp_UnamortizedIntangibleLeaseAssets_639215494010600824" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="Assets" xlink:to="olp_UnamortizedIntangibleLeaseAssets_639215494010600824" order="5" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_EscrowDepositsAndOtherAssetsAndReceivables" xlink:label="olp_EscrowDepositsAndOtherAssetsAndReceivables_639215494010600824" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="Assets" xlink:to="olp_EscrowDepositsAndOtherAssetsAndReceivables_639215494010600824" order="6" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="LiabilitiesAndStockholdersEquity" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_Liabilities" xlink:label="us-gaap_Liabilities_639215494010600824" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_Liabilities_639215494010600824" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SecuredDebt" xlink:label="us-gaap_SecuredDebt_639215494010606676" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_Liabilities_639215494010600824" xlink:to="us-gaap_SecuredDebt_639215494010606676" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LineOfCredit" xlink:label="us-gaap_LineOfCredit_639215494010606676" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_Liabilities_639215494010600824" xlink:to="us-gaap_LineOfCredit_639215494010606676" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:label="us-gaap_DividendsPayableCurrentAndNoncurrent_639215494010606676" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_Liabilities_639215494010600824" xlink:to="us-gaap_DividendsPayableCurrentAndNoncurrent_639215494010606676" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AccruedLiabilitiesCurrentAndNoncurrent" xlink:label="us-gaap_AccruedLiabilitiesCurrentAndNoncurrent_639215494010606676" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_Liabilities_639215494010600824" xlink:to="us-gaap_AccruedLiabilitiesCurrentAndNoncurrent_639215494010606676" order="4" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OffMarketLeaseUnfavorable" xlink:label="us-gaap_OffMarketLeaseUnfavorable_639215494010606676" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_Liabilities_639215494010600824" xlink:to="us-gaap_OffMarketLeaseUnfavorable_639215494010606676" order="5" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommitmentsAndContingencies" xlink:label="us-gaap_CommitmentsAndContingencies_639215494010611951" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_CommitmentsAndContingencies_639215494010611951" order="2" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_639215494010612728" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_639215494010612728" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockholdersEquity" xlink:label="us-gaap_StockholdersEquity_639215494010614132" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_639215494010612728" xlink:to="us-gaap_StockholdersEquity_639215494010614132" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PreferredStockValue" xlink:label="us-gaap_PreferredStockValue_639215494010614132" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_StockholdersEquity_639215494010614132" xlink:to="us-gaap_PreferredStockValue_639215494010614132" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommonStockValue" xlink:label="us-gaap_CommonStockValue_639215494010614132" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_StockholdersEquity_639215494010614132" xlink:to="us-gaap_CommonStockValue_639215494010614132" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AdditionalPaidInCapitalCommonStock" xlink:label="us-gaap_AdditionalPaidInCapitalCommonStock_639215494010614132" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_StockholdersEquity_639215494010614132" xlink:to="us-gaap_AdditionalPaidInCapitalCommonStock_639215494010614132" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_639215494010614132" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_StockholdersEquity_639215494010614132" xlink:to="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_639215494010614132" order="4" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AccumulatedDistributionsInExcessOfNetIncome" xlink:label="us-gaap_AccumulatedDistributionsInExcessOfNetIncome_639215494010619782" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_StockholdersEquity_639215494010614132" xlink:to="us-gaap_AccumulatedDistributionsInExcessOfNetIncome_639215494010619782" order="5" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MinorityInterest" xlink:label="us-gaap_MinorityInterest_639215494010620959" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_639215494010612728" xlink:to="us-gaap_MinorityInterest_639215494010620959" order="2" use="optional" weight="1" />
  </calculationLink>
  <calculationLink xlink:role="http://www.onelibertyproperties.com/role/StatementConsolidatedStatementsOfIncome" xlink:type="extended" xlink:title="995200200 - Statement - CONSOLIDATED STATEMENTS OF INCOME" xmlns="http://www.xbrl.org/2003/linkbase">
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetIncomeLoss" xlink:label="us-gaap_NetIncomeLoss" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProfitLoss" xlink:label="us-gaap_ProfitLoss_639215494010620959" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_ProfitLoss_639215494010620959" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OperatingIncomeLoss" xlink:label="us-gaap_OperatingIncomeLoss_639215494010620959" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_ProfitLoss_639215494010620959" xlink:to="us-gaap_OperatingIncomeLoss_639215494010620959" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OperatingLeaseLeaseIncome" xlink:label="us-gaap_OperatingLeaseLeaseIncome_639215494010626425" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_OperatingIncomeLoss_639215494010620959" xlink:to="us-gaap_OperatingLeaseLeaseIncome_639215494010626425" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OperatingExpenses" xlink:label="us-gaap_OperatingExpenses_639215494010627504" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_OperatingIncomeLoss_639215494010620959" xlink:to="us-gaap_OperatingExpenses_639215494010627504" order="2" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DepreciationAndAmortization" xlink:label="us-gaap_DepreciationAndAmortization_639215494010627504" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_OperatingExpenses_639215494010627504" xlink:to="us-gaap_DepreciationAndAmortization_639215494010627504" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_RealEstateOperatingExpenses" xlink:label="olp_RealEstateOperatingExpenses_639215494010627504" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_OperatingExpenses_639215494010627504" xlink:to="olp_RealEstateOperatingExpenses_639215494010627504" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_GeneralAndAdministrativeExpense" xlink:label="us-gaap_GeneralAndAdministrativeExpense_639215494010627504" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_OperatingExpenses_639215494010627504" xlink:to="us-gaap_GeneralAndAdministrativeExpense_639215494010627504" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ImpairmentOfRealEstate" xlink:label="us-gaap_ImpairmentOfRealEstate_639215494010627504" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_OperatingExpenses_639215494010627504" xlink:to="us-gaap_ImpairmentOfRealEstate_639215494010627504" order="4" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_FederalExciseAndStateTaxPaidAndOrAccrued" xlink:label="olp_FederalExciseAndStateTaxPaidAndOrAccrued_639215494010627504" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_OperatingExpenses_639215494010627504" xlink:to="olp_FederalExciseAndStateTaxPaidAndOrAccrued_639215494010627504" order="5" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_GainLossOnDispositionOfRealEstate" xlink:label="olp_GainLossOnDispositionOfRealEstate_639215494010633007" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_OperatingIncomeLoss_639215494010620959" xlink:to="olp_GainLossOnDispositionOfRealEstate_639215494010633007" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherNonoperatingIncome" xlink:label="us-gaap_OtherNonoperatingIncome_639215494010633462" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_ProfitLoss_639215494010620959" xlink:to="us-gaap_OtherNonoperatingIncome_639215494010633462" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InterestExpenseNonoperating" xlink:label="us-gaap_InterestExpenseNonoperating_639215494010633462" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_ProfitLoss_639215494010620959" xlink:to="us-gaap_InterestExpenseNonoperating_639215494010633462" order="3" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AmortizationOfFinancingCostsAndDiscounts" xlink:label="us-gaap_AmortizationOfFinancingCostsAndDiscounts_639215494010633462" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_ProfitLoss_639215494010620959" xlink:to="us-gaap_AmortizationOfFinancingCostsAndDiscounts_639215494010633462" order="4" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:label="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_639215494010633462" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_639215494010633462" order="2" use="optional" weight="-1" />
  </calculationLink>
  <calculationLink xlink:role="http://www.onelibertyproperties.com/role/StatementConsolidatedStatementsOfComprehensiveIncome" xlink:type="extended" xlink:title="995200300 - Statement - CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME" xmlns="http://www.xbrl.org/2003/linkbase">
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ComprehensiveIncomeNetOfTax" xlink:label="ComprehensiveIncomeNetOfTax" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:label="us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_639215494010639339" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="ComprehensiveIncomeNetOfTax" xlink:to="us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_639215494010639339" order="1" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProfitLoss" xlink:label="us-gaap_ProfitLoss_639215494010639339" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_639215494010639339" xlink:to="us-gaap_ProfitLoss_639215494010639339" order="1" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassification" xlink:label="olp_OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassification_639215494010639339" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_639215494010639339" xlink:to="olp_OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassification_639215494010639339" order="2" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:label="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_639215494010639339" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="ComprehensiveIncomeNetOfTax" xlink:to="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_639215494010639339" order="2" use="optional" weight="-1" priority="2" />
  </calculationLink>
  <calculationLink xlink:role="http://www.onelibertyproperties.com/role/StatementConsolidatedStatementsOfCashFlows" xlink:type="extended" xlink:title="995200500 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS" xmlns="http://www.xbrl.org/2003/linkbase">
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" xlink:label="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_639215494010644621" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivities_639215494010644621" order="1" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProfitLoss" xlink:label="us-gaap_ProfitLoss_639215494010644895" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_639215494010644621" xlink:to="us-gaap_ProfitLoss_639215494010644895" order="1" use="optional" weight="1" priority="1" />
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_GainLossOnSaleOfPropertyCashFlowImpact" xlink:label="olp_GainLossOnSaleOfPropertyCashFlowImpact_639215494010645880" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_639215494010644621" xlink:to="olp_GainLossOnSaleOfPropertyCashFlowImpact_639215494010645880" order="2" use="optional" weight="-1" priority="4" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ImpairmentOfRealEstate" xlink:label="us-gaap_ImpairmentOfRealEstate_639215494010645880" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_639215494010644621" xlink:to="us-gaap_ImpairmentOfRealEstate_639215494010645880" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StraightLineRent" xlink:label="us-gaap_StraightLineRent_639215494010645880" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_639215494010644621" xlink:to="us-gaap_StraightLineRent_639215494010645880" order="4" use="optional" weight="-1" priority="3" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AmortizationOfAboveAndBelowMarketLeases" xlink:label="us-gaap_AmortizationOfAboveAndBelowMarketLeases_639215494010645880" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_639215494010644621" xlink:to="us-gaap_AmortizationOfAboveAndBelowMarketLeases_639215494010645880" order="5" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensation" xlink:label="us-gaap_ShareBasedCompensation_639215494010645880" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_639215494010644621" xlink:to="us-gaap_ShareBasedCompensation_639215494010645880" order="6" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncomeLossFromEquityMethodInvestments" xlink:label="us-gaap_IncomeLossFromEquityMethodInvestments_639215494010651172" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_639215494010644621" xlink:to="us-gaap_IncomeLossFromEquityMethodInvestments_639215494010651172" order="7" use="optional" weight="-1" priority="3" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DepreciationDepletionAndAmortization" xlink:label="us-gaap_DepreciationDepletionAndAmortization_639215494010651735" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_639215494010644621" xlink:to="us-gaap_DepreciationDepletionAndAmortization_639215494010651735" order="8" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AmortizationOfFinancingCosts" xlink:label="us-gaap_AmortizationOfFinancingCosts_639215494010651735" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_639215494010644621" xlink:to="us-gaap_AmortizationOfFinancingCosts_639215494010651735" order="9" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_PaymentsToBrokersForCommissionsClassifiedAsOperatingActivities" xlink:label="olp_PaymentsToBrokersForCommissionsClassifiedAsOperatingActivities_639215494010651735" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_639215494010644621" xlink:to="olp_PaymentsToBrokersForCommissionsClassifiedAsOperatingActivities_639215494010651735" order="10" use="optional" weight="-1" priority="4" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncreaseDecreaseInOperatingAssets" xlink:label="us-gaap_IncreaseDecreaseInOperatingAssets_639215494010651735" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_639215494010644621" xlink:to="us-gaap_IncreaseDecreaseInOperatingAssets_639215494010651735" order="11" use="optional" weight="-1" priority="3" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncreaseDecreaseInOperatingLiabilities" xlink:label="us-gaap_IncreaseDecreaseInOperatingLiabilities_639215494010651735" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_639215494010644621" xlink:to="us-gaap_IncreaseDecreaseInOperatingLiabilities_639215494010651735" order="12" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_639215494010657595" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivities_639215494010657595" order="2" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentsToAcquireRealEstate" xlink:label="us-gaap_PaymentsToAcquireRealEstate_639215494010657595" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities_639215494010657595" xlink:to="us-gaap_PaymentsToAcquireRealEstate_639215494010657595" order="1" use="optional" weight="-1" priority="2" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentsToDevelopRealEstateAssets" xlink:label="us-gaap_PaymentsToDevelopRealEstateAssets_639215494010657595" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities_639215494010657595" xlink:to="us-gaap_PaymentsToDevelopRealEstateAssets_639215494010657595" order="2" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment" xlink:label="us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment_639215494010657595" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities_639215494010657595" xlink:to="us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment_639215494010657595" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProceedsFromCollectionOfLoansReceivable" xlink:label="us-gaap_ProceedsFromCollectionOfLoansReceivable_639215494010657595" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities_639215494010657595" xlink:to="us-gaap_ProceedsFromCollectionOfLoansReceivable_639215494010657595" order="4" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital" xlink:label="us-gaap_ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital_639215494010663150" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities_639215494010657595" xlink:to="us-gaap_ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital_639215494010663150" order="5" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_639215494010663445" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities_639215494010663445" order="3" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_PaymentsOfAmortizationOfMortgagesPayable" xlink:label="olp_PaymentsOfAmortizationOfMortgagesPayable_639215494010663445" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities_639215494010663445" xlink:to="olp_PaymentsOfAmortizationOfMortgagesPayable_639215494010663445" order="1" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RepaymentsOfSecuredDebt" xlink:label="us-gaap_RepaymentsOfSecuredDebt_639215494010663445" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities_639215494010663445" xlink:to="us-gaap_RepaymentsOfSecuredDebt_639215494010663445" order="2" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProceedsFromIssuanceOfSecuredDebt" xlink:label="us-gaap_ProceedsFromIssuanceOfSecuredDebt_639215494010663445" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities_639215494010663445" xlink:to="us-gaap_ProceedsFromIssuanceOfSecuredDebt_639215494010663445" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProceedsFromLongTermLinesOfCredit" xlink:label="us-gaap_ProceedsFromLongTermLinesOfCredit_639215494010669009" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities_639215494010663445" xlink:to="us-gaap_ProceedsFromLongTermLinesOfCredit_639215494010669009" order="4" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RepaymentsOfLongTermLinesOfCredit" xlink:label="us-gaap_RepaymentsOfLongTermLinesOfCredit_639215494010669336" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities_639215494010663445" xlink:to="us-gaap_RepaymentsOfLongTermLinesOfCredit_639215494010669336" order="5" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProceedsFromIssuanceOfCommonStockDividendReinvestmentPlan" xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStockDividendReinvestmentPlan_639215494010669336" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities_639215494010663445" xlink:to="us-gaap_ProceedsFromIssuanceOfCommonStockDividendReinvestmentPlan_639215494010669336" order="6" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentsOfFinancingCosts" xlink:label="us-gaap_PaymentsOfFinancingCosts_639215494010669336" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities_639215494010663445" xlink:to="us-gaap_PaymentsOfFinancingCosts_639215494010669336" order="7" use="optional" weight="-1" priority="2" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentsToMinorityShareholders" xlink:label="us-gaap_PaymentsToMinorityShareholders_639215494010669336" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities_639215494010663445" xlink:to="us-gaap_PaymentsToMinorityShareholders_639215494010669336" order="8" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentsOfDividendsCommonStock" xlink:label="us-gaap_PaymentsOfDividendsCommonStock_639215494010675123" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities_639215494010663445" xlink:to="us-gaap_PaymentsOfDividendsCommonStock_639215494010675123" order="9" use="optional" weight="-1" />
  </calculationLink>
  <calculationLink xlink:role="http://www.onelibertyproperties.com/role/StatementConsolidatedStatementsOfCashFlowsParenthetical" xlink:type="extended" xlink:title="995200505 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical)" xmlns="http://www.xbrl.org/2003/linkbase">
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:label="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_639215494010675123" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_639215494010675123" order="1" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_RestrictedCashIncludedInEscrowDepositsAndOtherAssetsAndReceivables" xlink:label="olp_RestrictedCashIncludedInEscrowDepositsAndOtherAssetsAndReceivables_639215494010675123" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="olp_RestrictedCashIncludedInEscrowDepositsAndOtherAssetsAndReceivables_639215494010675123" order="2" use="optional" weight="1" priority="2" />
  </calculationLink>
  <calculationLink xlink:role="http://www.onelibertyproperties.com/role/DisclosureLeasesAsLessorDetails" xlink:type="extended" xlink:title="99940301 - Disclosure - LEASES - As Lessor (Details)" xmlns="http://www.xbrl.org/2003/linkbase">
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_OperatingLeaseLeaseIncomeExcludingAmortizationRelatedToLeaseIntangibleAssetsAndLiabilities" xlink:label="OperatingLeaseLeaseIncomeExcludingAmortizationRelatedToLeaseIntangibleAssetsAndLiabilities_olp_2" />
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_OperatingLeaseLeaseIncomeLeasePaymentsExcludingAmortizationRelatedToLeaseIntangibleAssetsAndLiabilities" xlink:label="olp_OperatingLeaseLeaseIncomeLeasePaymentsExcludingAmortizationRelatedToLeaseIntangibleAssetsAndLiabilities_639215494010681483" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="OperatingLeaseLeaseIncomeExcludingAmortizationRelatedToLeaseIntangibleAssetsAndLiabilities_olp_2" xlink:to="olp_OperatingLeaseLeaseIncomeLeasePaymentsExcludingAmortizationRelatedToLeaseIntangibleAssetsAndLiabilities_639215494010681483" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_OperatingLeaseVariableLeaseIncomeExcludingAmortizationRelatedToLeaseIntangibleAssetsAndLiabilities" xlink:label="olp_OperatingLeaseVariableLeaseIncomeExcludingAmortizationRelatedToLeaseIntangibleAssetsAndLiabilities_639215494010681483" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="OperatingLeaseLeaseIncomeExcludingAmortizationRelatedToLeaseIntangibleAssetsAndLiabilities_olp_2" xlink:to="olp_OperatingLeaseVariableLeaseIncomeExcludingAmortizationRelatedToLeaseIntangibleAssetsAndLiabilities_639215494010681483" order="2" use="optional" weight="1" />
  </calculationLink>
  <calculationLink xlink:role="http://www.onelibertyproperties.com/role/DisclosureLeasesAsLessorMinimumFutureRentsDetails" xlink:type="extended" xlink:title="99940302 - Disclosure - LEASES - As Lessor - Minimum Future Rents (Details)" xmlns="http://www.xbrl.org/2003/linkbase">
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceived" xlink:label="LessorOperatingLeasePaymentsToBeReceived" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear_639215494010681483" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="LessorOperatingLeasePaymentsToBeReceived" xlink:to="us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear_639215494010681483" order="1" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths_639215494010681483" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="LessorOperatingLeasePaymentsToBeReceived" xlink:to="us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths_639215494010681483" order="2" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears_639215494010681483" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="LessorOperatingLeasePaymentsToBeReceived" xlink:to="us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears_639215494010681483" order="3" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears_639215494010687286" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="LessorOperatingLeasePaymentsToBeReceived" xlink:to="us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears_639215494010687286" order="4" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears_639215494010687520" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="LessorOperatingLeasePaymentsToBeReceived" xlink:to="us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears_639215494010687520" order="5" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedFiveYears" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceivedFiveYears_639215494010687520" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="LessorOperatingLeasePaymentsToBeReceived" xlink:to="us-gaap_LessorOperatingLeasePaymentsToBeReceivedFiveYears_639215494010687520" order="6" use="optional" weight="1" priority="3" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter_639215494010687520" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="LessorOperatingLeasePaymentsToBeReceived" xlink:to="us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter_639215494010687520" order="7" use="optional" weight="1" priority="2" />
  </calculationLink>
  <calculationLink xlink:role="http://www.onelibertyproperties.com/role/DisclosureLeasesAsLesseeMinimumFutureLeasePaymentsDetails" xlink:type="extended" xlink:title="99940305 - Disclosure - LEASES - As Lessee - Minimum Future Lease Payments (Details)" xmlns="http://www.xbrl.org/2003/linkbase">
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue" xlink:label="LesseeOperatingLeaseLiabilityPaymentsDue" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_639215494010687520" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="LesseeOperatingLeaseLiabilityPaymentsDue" xlink:to="us-gaap_LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_639215494010687520" order="1" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_639215494010693201" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="LesseeOperatingLeaseLiabilityPaymentsDue" xlink:to="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_639215494010693201" order="2" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_639215494010693201" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="LesseeOperatingLeaseLiabilityPaymentsDue" xlink:to="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_639215494010693201" order="3" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree_639215494010693201" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="LesseeOperatingLeaseLiabilityPaymentsDue" xlink:to="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree_639215494010693201" order="4" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour_639215494010693201" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="LesseeOperatingLeaseLiabilityPaymentsDue" xlink:to="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour_639215494010693201" order="5" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive_639215494010693201" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="LesseeOperatingLeaseLiabilityPaymentsDue" xlink:to="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive_639215494010693201" order="6" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_639215494010698471" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="LesseeOperatingLeaseLiabilityPaymentsDue" xlink:to="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_639215494010698471" order="7" use="optional" weight="1" priority="2" />
  </calculationLink>
  <calculationLink xlink:role="http://www.onelibertyproperties.com/role/DisclosureLeasesAsLesseeMinimumFutureLeasePaymentsDetailsCalc2" xlink:type="extended" xlink:title="40399 - Disclosure - Leases - As Lessee -Minimum Future Lease Payments (Details) (Calc2)" xmlns="http://www.xbrl.org/2003/linkbase">
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue" xlink:label="LesseeOperatingLeaseLiabilityPaymentsDue" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_639215494010698930" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="LesseeOperatingLeaseLiabilityPaymentsDue" xlink:to="us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_639215494010698930" order="1" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OperatingLeaseLiability" xlink:label="us-gaap_OperatingLeaseLiability_639215494010698930" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="LesseeOperatingLeaseLiabilityPaymentsDue" xlink:to="us-gaap_OperatingLeaseLiability_639215494010698930" order="2" use="optional" weight="1" priority="2" />
  </calculationLink>
  <calculationLink xlink:role="http://www.onelibertyproperties.com/role/DisclosureRealEstateAcquisitionsPurchasePriceAllocationDetails" xlink:type="extended" xlink:title="99940402 - Disclosure - REAL ESTATE ACQUISITIONS - Purchase price allocation (Details)" xmlns="http://www.xbrl.org/2003/linkbase">
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AssetsNet" xlink:label="us-gaap_AssetsNet" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_639215494010698930" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_AssetsNet" xlink:to="us-gaap_PropertyPlantAndEquipmentNet_639215494010698930" order="1" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_UnamortizedIntangibleLeaseAssets" xlink:label="olp_UnamortizedIntangibleLeaseAssets_639215494010704632" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_AssetsNet" xlink:to="olp_UnamortizedIntangibleLeaseAssets_639215494010704632" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BelowMarketLeaseNet" xlink:label="us-gaap_BelowMarketLeaseNet_639215494010704632" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_AssetsNet" xlink:to="us-gaap_BelowMarketLeaseNet_639215494010704632" order="3" use="optional" weight="-1" priority="2" />
  </calculationLink>
  <calculationLink xlink:role="http://www.onelibertyproperties.com/role/DisclosureDebtObligationsMortgagePayableDetails" xlink:type="extended" xlink:title="99940601 - Disclosure - DEBT OBLIGATIONS - Mortgage Payable (Details)" xmlns="http://www.xbrl.org/2003/linkbase">
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SecuredDebt" xlink:label="SecuredDebt" />
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_SecuredDebtBeforeNettingOfDeferredFinancingCosts" xlink:label="olp_SecuredDebtBeforeNettingOfDeferredFinancingCosts_639215494010704632" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="SecuredDebt" xlink:to="olp_SecuredDebtBeforeNettingOfDeferredFinancingCosts_639215494010704632" order="1" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DeferredFinanceCostsNet" xlink:label="us-gaap_DeferredFinanceCostsNet_639215494010704632" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="SecuredDebt" xlink:to="us-gaap_DeferredFinanceCostsNet_639215494010704632" order="2" use="optional" weight="-1" priority="2" />
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_UnamortizedMortgageIntangibleAssets" xlink:label="olp_UnamortizedMortgageIntangibleAssets_639215494010709912" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="SecuredDebt" xlink:to="olp_UnamortizedMortgageIntangibleAssets_639215494010709912" order="3" use="optional" weight="-1" />
  </calculationLink>
  <calculationLink xlink:role="http://www.onelibertyproperties.com/role/DisclosureDebtObligationsPrincipalRepaymentsDetails" xlink:type="extended" xlink:title="99940602 - Disclosure - DEBT OBLIGATIONS - Principal repayments (Details)" xmlns="http://www.xbrl.org/2003/linkbase">
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_SecuredDebtBeforeNettingOfDeferredFinancingCosts" xlink:label="olp_SecuredDebtBeforeNettingOfDeferredFinancingCosts_1" />
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsRepaymentsRemainderOfFiscalYear" xlink:label="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsRepaymentsRemainderOfFiscalYear_639215494010710363" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="olp_SecuredDebtBeforeNettingOfDeferredFinancingCosts_1" xlink:to="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsRepaymentsRemainderOfFiscalYear_639215494010710363" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsRepaymentsDueInYearTwo" xlink:label="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsRepaymentsDueInYearTwo_639215494010710363" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="olp_SecuredDebtBeforeNettingOfDeferredFinancingCosts_1" xlink:to="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsRepaymentsDueInYearTwo_639215494010710363" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsRepaymentsDueInYearThree" xlink:label="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsRepaymentsDueInYearThree_639215494010710363" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="olp_SecuredDebtBeforeNettingOfDeferredFinancingCosts_1" xlink:to="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsRepaymentsDueInYearThree_639215494010710363" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsRepaymentsDueInYearFour" xlink:label="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsRepaymentsDueInYearFour_639215494010710363" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="olp_SecuredDebtBeforeNettingOfDeferredFinancingCosts_1" xlink:to="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsRepaymentsDueInYearFour_639215494010710363" order="4" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsRepaymentsDueInYearFive" xlink:label="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsRepaymentsDueInYearFive_639215494010710363" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="olp_SecuredDebtBeforeNettingOfDeferredFinancingCosts_1" xlink:to="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsRepaymentsDueInYearFive_639215494010710363" order="5" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsRepaymentsDueAfterYearFive" xlink:label="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsRepaymentsDueAfterYearFive_639215494010710363" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="olp_SecuredDebtBeforeNettingOfDeferredFinancingCosts_1" xlink:to="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsRepaymentsDueAfterYearFive_639215494010710363" order="6" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsAmortizationPayments" xlink:label="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsAmortizationPayments_1" />
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsAmortizationPaymentsRemainderOfFiscalYear" xlink:label="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsAmortizationPaymentsRemainderOfFiscalYear_639215494010716434" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsAmortizationPayments_1" xlink:to="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsAmortizationPaymentsRemainderOfFiscalYear_639215494010716434" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsAmortizationPaymentsDueInYearTwo" xlink:label="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsAmortizationPaymentsDueInYearTwo_639215494010716434" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsAmortizationPayments_1" xlink:to="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsAmortizationPaymentsDueInYearTwo_639215494010716434" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsAmortizationPaymentsDueInYearThree" xlink:label="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsAmortizationPaymentsDueInYearThree_639215494010716434" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsAmortizationPayments_1" xlink:to="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsAmortizationPaymentsDueInYearThree_639215494010716434" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsAmortizationPaymentsDueInYearFour" xlink:label="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsAmortizationPaymentsDueInYearFour_639215494010716434" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsAmortizationPayments_1" xlink:to="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsAmortizationPaymentsDueInYearFour_639215494010716434" order="4" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsAmortizationPaymentsDueInYearFive" xlink:label="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsAmortizationPaymentsDueInYearFive_639215494010716434" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsAmortizationPayments_1" xlink:to="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsAmortizationPaymentsDueInYearFive_639215494010716434" order="5" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsAmortizationPaymentsDueAfterYearFive" xlink:label="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsAmortizationPaymentsDueAfterYearFive_639215494010716434" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsAmortizationPayments_1" xlink:to="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsAmortizationPaymentsDueAfterYearFive_639215494010716434" order="6" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsPrincipalBalloonPayments" xlink:label="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsPrincipalBalloonPayments_1" />
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsPrincipalBalloonPaymentsRemainderOfFiscalYear" xlink:label="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsPrincipalBalloonPaymentsRemainderOfFiscalYear_639215494010722199" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsPrincipalBalloonPayments_1" xlink:to="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsPrincipalBalloonPaymentsRemainderOfFiscalYear_639215494010722199" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsPrincipalBalloonPaymentsDueInYearTwo" xlink:label="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsPrincipalBalloonPaymentsDueInYearTwo_639215494010722199" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsPrincipalBalloonPayments_1" xlink:to="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsPrincipalBalloonPaymentsDueInYearTwo_639215494010722199" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsPrincipalBalloonPaymentsDueInYearThree" xlink:label="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsPrincipalBalloonPaymentsDueInYearThree_639215494010722199" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsPrincipalBalloonPayments_1" xlink:to="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsPrincipalBalloonPaymentsDueInYearThree_639215494010722199" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsPrincipalBalloonPaymentsDueInYearFour" xlink:label="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsPrincipalBalloonPaymentsDueInYearFour_639215494010722199" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsPrincipalBalloonPayments_1" xlink:to="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsPrincipalBalloonPaymentsDueInYearFour_639215494010722199" order="4" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsPrincipalBalloonPaymentsDueInYearFive" xlink:label="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsPrincipalBalloonPaymentsDueInYearFive_639215494010722199" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsPrincipalBalloonPayments_1" xlink:to="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsPrincipalBalloonPaymentsDueInYearFive_639215494010722199" order="5" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsPrincipalBalloonPaymentsDueAfterYearFive" xlink:label="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsPrincipalBalloonPaymentsDueAfterYearFive_639215494010722199" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsPrincipalBalloonPayments_1" xlink:to="olp_SecuredDebtBeforeNettingOfDeferredFinancingCostsPrincipalBalloonPaymentsDueAfterYearFive_639215494010722199" order="6" use="optional" weight="1" />
  </calculationLink>
  <calculationLink xlink:role="http://www.onelibertyproperties.com/role/DisclosureEarningsPerCommonShareReconciliationDetails" xlink:type="extended" xlink:title="99940901 - Disclosure - EARNINGS PER COMMON SHARE - Reconciliation (Details)" xmlns="http://www.xbrl.org/2003/linkbase">
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:label="NetIncomeLossAvailableToCommonStockholdersBasic_1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProfitLoss" xlink:label="us-gaap_ProfitLoss_639215494010728137" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="NetIncomeLossAvailableToCommonStockholdersBasic_1" xlink:to="us-gaap_ProfitLoss_639215494010728137" order="1" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:label="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_639215494010728137" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="NetIncomeLossAvailableToCommonStockholdersBasic_1" xlink:to="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_639215494010728137" order="2" use="optional" weight="-1" priority="2" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic" xlink:label="us-gaap_ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic_639215494010728137" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="NetIncomeLossAvailableToCommonStockholdersBasic_1" xlink:to="us-gaap_ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic_639215494010728137" order="3" use="optional" weight="-1" priority="2" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="WeightedAverageNumberOfDilutedSharesOutstanding_1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_639215494010728137" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="WeightedAverageNumberOfDilutedSharesOutstanding_1" xlink:to="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_639215494010728137" order="1" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment" xlink:label="us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_639215494010734014" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="WeightedAverageNumberOfDilutedSharesOutstanding_1" xlink:to="us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_639215494010734014" order="2" use="optional" weight="1" />
  </calculationLink>
  <calculationLink xlink:role="http://www.onelibertyproperties.com/role/DisclosureEarningsPerCommonShareSharesOfCommonStockUnderlyingRsusDetails" xlink:type="extended" xlink:title="99940902 - Disclosure - EARNINGS PER COMMON SHARE - Shares of common stock underlying RSUs (Details)" xmlns="http://www.xbrl.org/2003/linkbase">
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:label="IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" />
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_IncrementalCommonSharesAttributableToShareBasedPaymentArrangementsDueToReturnOnCapitalMetric" xlink:label="olp_IncrementalCommonSharesAttributableToShareBasedPaymentArrangementsDueToReturnOnCapitalMetric_639215494010734014" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:to="olp_IncrementalCommonSharesAttributableToShareBasedPaymentArrangementsDueToReturnOnCapitalMetric_639215494010734014" order="1" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="olp-20260630.xsd#olp_IncrementalCommonSharesAttributableToShareBasedPaymentArrangementsDueToStockholderReturnMetric" xlink:label="olp_IncrementalCommonSharesAttributableToShareBasedPaymentArrangementsDueToStockholderReturnMetric_639215494010734014" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:to="olp_IncrementalCommonSharesAttributableToShareBasedPaymentArrangementsDueToStockholderReturnMetric_639215494010734014" order="2" use="optional" weight="1" priority="2" />
  </calculationLink>
</link:linkbase>
