Exhibit 99.1

ONE LIBERTY PROPERTIES REPORTS FIRST QUARTER

2025 RESULTS

— Closes on Previously Announced Purchase of Four Industrial Properties for $88.3 Million —

— Completes Sale of Two Non-Industrial Assets for a $1.1 Million Gain —

GREAT NECK, New York, May 6, 2025 — One Liberty Properties, Inc. (the “Company” or “One Liberty”) (NYSE: OLP), a real estate investment trust focused on net leased properties, today announced operating results for the quarter ended March 31, 2025.

“We continue to focus on evolving our portfolio towards industrial assets.  With the closing of an additional $88 million for four industrial properties and the sale of two non-industrial assets, we further strengthened our industrial platform with approximately 75% of our base rent being derived from this property sector”, stated Patrick J. Callan, Jr., One Liberty’s President and Chief Executive Officer.  “We have progressed our portfolio towards greater cash flow stability, which will benefit us over the longer term.  Despite current uncertain interest rate and economic environments, we believe that our disciplined approach will continue to serve us well as we move through the balance of the year and beyond.”

Operating Results:

Rental income grew 7.7% to $24.2 million in the first quarter of 2025 compared to $22.4 million in the same prior year quarter. The growth was due primarily to the acquisition of seven industrial properties, offset by the sale of 11 assets (including nine non-industrial assets), in each case since January 1, 2024.

Total operating expenses were $15.7 million in the first quarter of 2025 compared to $14.5 million in 2024. The change is due primarily to the increase in real estate expenses, a substantial portion of which are reimbursed to the Company, and a rise in depreciation and amortization expense, primarily related to the properties acquired since January 1, 2024.

For the first quarter of 2025, other expenses, net, which includes interest expense of $5.4 million, were $5.5 million, compared to $4.6 million in the corresponding period of 2024.

Net income attributable to One Liberty in the first quarter of 2025 was $4.2 million, or $0.18 per diluted share, compared to $5.2 million, or $0.23 per diluted share, in the first quarter of 2024. Net income for the 2025 quarter includes a $1.1 million, or $0.05 per diluted share, gain on sale of real estate and net income for the 2024 quarter includes a $1.8 million, or $0.08 per diluted share, gain on sale of real estate.

Funds from Operations, or FFO1, was $9.6 million, or $0.44 per diluted share, for the first quarter of 2025, compared to $9.6 million, or $0.45 per diluted share, in the first quarter of 2024.

Adjusted Funds from Operations, or AFFO, was $10.5 million, or $0.48 per diluted share, for the quarter ended March 31, 2025, compared to $10.2 million, or $0.48 per diluted share, for the corresponding quarter in the prior year.

Diluted per share net income, FFO and AFFO were impacted negatively in the quarter ended March 31, 2025 compared to the corresponding quarter in the prior year by an average increase of approximately 376,000 in the weighted average number of shares of common stock outstanding as a result of stock issuances in connection with non-cash equity incentive and dividend reinvestment programs.

Transactions:

Acquisitions

OLP completed the acquisition of the previously announced purchases of four industrial properties for an aggregate purchase price of $88.3 million, incurring new mortgage debt of $52.1 million bearing a weighted average interest rate of 6.2% and a weighted average remaining term to maturity of 9.2 years. OLP estimates that commencing April 1, 2025, the quarterly rental income (excluding variable lease revenues), depreciation and amortization expense and mortgage interest expense from these four properties will be approximately $1.6 million, $850,000 and $810,000, respectively.

Dispositions

OLP sold two real estate assets for a gross sales price of $3.7 million and an aggregate gain on sale of $1.1 million.

Balance Sheet:

At March 31, 2025, the Company had $8.2 million of cash and cash equivalents, total assets of $811.7 million, total debt of $471 million, and total One Liberty Properties, Inc. stockholders’ equity of $303.2 million.

At May 1, 2025, One Liberty’s available liquidity was $96.4 million, including $8.9 million of cash and cash equivalents and $87.5 million available under the credit facility(including the credit facility’s required $3.0 million deposit maintenance balance).

Non-GAAP Financial Measures:

One Liberty computes FFO in accordance with the “White Paper on Funds from Operations” issued by the National Association of Real Estate Investment Trusts (“NAREIT”) and NAREIT’s related guidance. FFO is defined in the White Paper as net income (calculated in accordance with GAAP), excluding depreciation and amortization related to real estate, gains and losses from the sale of certain real estate assets, gains and losses from change in control, impairment write-downs of certain real estate assets and investments in entities where the impairment is directly attributable to decreases in the value of depreciable real estate held by the entity. Adjustments for unconsolidated partnerships and joint ventures are calculated to reflect FFO on the same basis. In computing FFO, management does not add back to net income the amortization of costs in connection with its financing activities or depreciation of non-real estate assets.

One Liberty computes AFFO by adjusting from FFO for straight-line rent accruals and amortization of lease intangibles, deducting from income additional rent from ground lease tenant, income on settlement of litigation, income on insurance recoveries from casualties, lease termination and assignment fees, and adding back amortization of restricted stock and restricted stock unit compensation expense, amortization of costs in connection with its financing activities (including its share of its unconsolidated joint ventures), debt prepayment costs and amortization of lease incentives and mortgage intangible assets. Since the NAREIT White Paper does not provide guidelines for computing AFFO, the computation of AFFO varies from one REIT to another.

One Liberty believes that FFO and AFFO are useful and standard supplemental measures of the operating performance for equity REITs and are used frequently by securities analysts, investors and other interested parties in evaluating equity REITs, many of which present FFO and AFFO when reporting their operating results. FFO and AFFO are intended to exclude GAAP historical cost depreciation and amortization of real estate assets, which assumes that the value of real estate assets diminish predictability over time. In fact, real estate values have historically risen and fallen with market conditions. As a result, management believes that FFO and AFFO provide a performance measure that when compared year-over-year, should reflect the impact to operations from trends in occupancy rates, rental rates, operating costs, interest costs and other matters without the inclusion of depreciation and amortization, providing a perspective that may not be necessarily apparent from net income. Management also considers FFO and AFFO to be useful in evaluating potential property acquisitions.

FFO and AFFO do not represent net income or cash flows from operating, investing or financing activities as defined by GAAP. FFO and AFFO should not be considered an alternative to net income as a reliable measure of our operating performance nor as an alternative to cash flows from operating, investing or financing activities as measures of liquidity. FFO and AFFO do not measure whether cash flow is sufficient to fund all of the Company’s cash needs, including principal amortization, capital improvements and distributions to stockholders.

Management recognizes that there are limitations in the use of FFO and AFFO. In evaluating the Company’s performance, management is careful to examine GAAP measures such as net income and cash flows from operating, investing and financing activities.

Forward Looking Statement:

Certain information contained in this press release, together with other statements and information publicly disseminated by One Liberty Properties, Inc. is forward looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. We intend such forward looking statements to be covered by the safe harbor provision for forward looking statements contained in the Private Securities Litigation Reform Act of 1995 and include this statement for the purpose of complying with these safe harbor provisions. Forward looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, are generally identifiable by use of the words “may,” “will,” “could,” “believe,” “expect,” “intend,” “anticipate,” “estimate,” “project,” or similar expressions or variations thereof. Information regarding important factors that could cause actual outcomes or other events to differ materially from any such forward looking statements appear in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 and the reports filed with the Securities and Exchange Commission thereafter; in particular, the sections of such reports entitled “Cautionary Note Regarding Forward Looking Statements”, “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations”, included therein. In addition, estimates of base rent or rental income for 2025 or thereafter excludes any related variable rent, anticipated property purchases and/or sales may not be completed during the period indicated or at all, and estimates of gains from property sales are subject to adjustment, among other things, because actual closing costs may differ from the estimated costs. You should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company’s control and which could materially affect the Company’s actual results, financial condition, cash flows, performance or future achievements.

About One Liberty Properties:

One Liberty is a self-administered and self-managed real estate investment trust incorporated in Maryland in 1982. The Company acquires, owns and manages a geographically diversified portfolio consisting primarily of industrial and retail properties. Many of these properties are subject to long-term net leases under which the tenant is typically responsible for the property’s real estate taxes, insurance and ordinary maintenance and repairs.

Contact:

One Liberty Properties

Investor Relations

Phone: (516) 466-3100

www.onelibertyproperties.com

ONE LIBERTY PROPERTIES, INC.

CONDENSED BALANCE SHEETS

(Amounts in Thousands)

ONE LIBERTY PROPERTIES, INC. (NYSE: OLP)

(Amounts in Thousands, Except Per Share Data)

ONE LIBERTY PROPERTIES, INC. (NYSE: OLP)

(Amounts in Thousands, Except Per Share Data)

(Unaudited)

7