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Storage Locker Income Calculator
On-site tenant storage lockers generate ancillary rental income at multifamily.
Annual net revenue
$62,820
Monthly gross
$5,610
Annual amortization
$4,500
How the math works
Gross = lockers × occ × rent. Net = gross × 12 − capex / life.
120 × 85% × $55 = $5,610/mo × 12 = $67,320 − $4,500 amort = $62,820/yr net.
How to Use
- Enter number of storage lockers.
- Enter monthly locker rent.
- Enter occupancy %.
- Enter buildout capex.
- Enter useful life years.
- Read annual net revenue.
Frequently Asked Questions
Storage locker pricing?
Small (3×3×4 ft): $20-50/month. Medium (4×4×6 ft): $40-80/month. Large (4×6×8 ft): $60-150/month. Walk-in cage (6×8×8 ft): $100-250/month. Premium urban (Manhattan, SF): 2-3× above mid-market. Space waste vs self-storage: similar capacity at similar price (lower for on-site because of convenience). Tenants value proximity + no driving.
Locker count per building?
New construction target: 0.5-1.5 lockers per unit (often basement/parking garage). 200-unit building: 100-300 lockers. Demand typically exceeds supply in Class A. Waitlist 30-90 days common. Conversion of unused parking, mechanical rooms, storage areas: $3-8k per locker buildout. Existing lockers: 25-50% of multifamily 2020+, <10% older construction.
Buildout?
Simple metal cages: $200-600/locker. Wood lockers: $500-1,500/locker. Premium (climate controlled, fancy): $1,500-4,000/locker. Including lock systems, lighting, air circulation, fire protection. Modular systems (Bradley, Thomas Thiemann): fast install. Amortized 15-25 year life. Per-locker monthly revenue net of amortization: $30-150 typical.
Tenant adoption?
60-85% adoption at buildings with lockers (very popular). Usage: moving boxes, seasonal items, sports gear, bikes, extra furniture. Complements in-unit storage. Waitlist builds rapidly in mature buildings. Renewal driver: tenants don't want to lose locker access. Upsell opportunity: premium lockers at higher rate. Ancillary revenue per building: $10-60k/year.
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