Laundry Room in Apartment Building - need advice

[Rob Bianco]

I bought an 11 unit building that has a laundry room in the basement. The previous owner had 4 washers and dryers but it was a bit overkill so we're only keeping 1 washer and dryer which my property manager thinks should be sufficient.

But now I have like 500 sq ft of space where washers / dryers were and was also used as like part-time storage space for the owner's junk.

I'm debating whether there's enough space to build out a studio or if I am better off providing more services for tenants like a bike rack or storage lockers or something else instead .. ?