Capital of the Operating Partnership	6 Months Ended
Capital of the Operating Partnership	Jun. 30, 2024
Equity [Abstract]
Capital of the Operating Partnership	Capital of the Operating Partnership As of June 30, 2024, the Operating Partnership had 134,891,471 OP Units outstanding. ROIC owned an approximate 94.5% partnership interest in the Operating Partnership at June 30, 2024, or 127,454,354 OP Units. The remaining 7,437,117 OP Units are owned by other limited partners. A share of ROIC’s common stock and an OP Unit have essentially the same economic characteristics as they share equally in the total net income or loss and distributions of the Operating Partnership. As of June 30, 2024, subject to certain exceptions, holders are able to redeem their OP Units for cash or, at ROIC’s option, for shares of ROIC common stock on a one-for-one basis. If cash is paid in the redemption, the redemption price is equal to the average closing price on the NASDAQ Stock Market for shares of ROIC’s common stock over the ten consecutive trading days immediately preceding the date a redemption notice is received by ROIC. The redemption value of outstanding OP Units owned by the limited partners as of June 30, 2024, not including ROIC, had such units been redeemed at June 30, 2024, was approximately $91.6 million, calculated based on the average closing price of ROIC’s common stock on the NASDAQ Stock Market for the ten consecutive trading days immediately preceding June 30, 2024, which amounted to $12.32 per share. Retail Opportunity Investments GP, LLC, ROIC’s wholly-owned subsidiary, is the sole general partner of the Operating Partnership, and as the parent company, ROIC has the full and complete authority over the Operating Partnership’s day-to-day management and control. As the sole general partner of the Operating Partnership, ROIC effectively controls the ability to issue common stock of ROIC upon redemption of any OP Units. The redemption provisions that permit ROIC to settle the redemption of OP Units in either cash or common stock, in the sole discretion of ROIC, are further evaluated in accordance with applicable accounting guidance to determine whether temporary or permanent equity classification on the balance sheet is appropriate. The Company evaluated this guidance, including the ability, in its sole discretion, to settle in unregistered shares of common stock, and determined that the OP Units meet the requirements to qualify for presentation as permanent equity.

RETAIL OPPORTUNITY INVESTMENTS CORP 10-Q