one-time vs old

one-time is not a noun while old is a noun.

Word	Noun	Adjective	Verb	Adverb
one-time	No	Yes	No	No
old	Yes	Yes	No	No

As adjectives, one-time and old are synonyms defined as:

Other synonyms of one-time include erstwhile, former, onetime, quondam, sometime.

one-time (noun)	old (noun)
	past times

one-time (adjective)	old (adjective)
belonging to some prior time	of long duration; not new
	(used especially of persons) having lived for a relatively long time or attained a specific age
	skilled through long experience
	(used for emphasis) very familiar
	excellent
	just preceding something else in time or order
	belonging to some prior time