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Updated almost 10 years ago on . Most recent reply

Account Closed
  • Investor
  • Fairport, NY
74
Votes |
124
Posts

Monetizing Unused Space in Basement with Self Storage

Account Closed
  • Investor
  • Fairport, NY
Posted

Good morning all, I have a commercial property (2 levels with office space) that has a large basement sitting empty.  The building is in a small city and I am considering some options to add value by monetizing the space.

I have been thinking about climate controlled storage units or document storage.  

Would love to hear from anyone who has done this, or any other ways people have added value by using dead space.

Thanks for any input.

Most Popular Reply

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Ryan Dossey
  • Real Estate Broker
  • Indianapolis, IN
2,427
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Ryan Dossey
  • Real Estate Broker
  • Indianapolis, IN
Replied

I'd be careful with document storage in a basement. In the event of a flood that's going to be the first thing to get wet. I would talk to your insurance company. I would also talk to county about using the basement for a commercial business. (Find out if you're required to have egress windows)

Sounds like a neat idea. Following.

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