How Much Does It Cost to Build a Self-Storage Facility?

Miles of Storage
February 6th, 2025

The self-storage industry is a growing and recession-resistant business, making it an attractive investment opportunity. The more storage units your facility has, the greater its potential to generate profits. Many entrepreneurs entering the industry choose to build large-scale mini storage buildings with multiple units inside to maximize their return on investment.If you’re considering starting a self-storage business, one of the biggest factors to consider is the cost of building your facility. While many elements contribute to the final price—including location, building complexity, and design features—two primary cost drivers are material costs and construction costs.

Material Costs for a Self-Storage Building

The cost of materials for a self-storage building can vary depending on the supplier and the size of the facility. Prices fluctuate based on material availability, steel prices, and overall market conditions. On average, steel mini storage buildings range from $8.50 to $14 per square foot. The total cost will depend on how many units you plan to build and their individual sizes.Here’s a breakdown of estimated material costs based on different storage unit configurations:

100 Storage Units Measuring 10’x20’

If you plan to build 100 storage units that are 10 feet by 20 feet, your total facility will require 20,000 square feet of space. The estimated material cost for a facility of this size is between $170,000 and $280,000.

100 Storage Units Measuring 10’x10’

A facility with 100 storage units that are 10 feet by 10 feet requires 10,000 square feet of space. The estimated material cost for a building of this size falls between $85,000 and $140,000.

100 Storage Units Measuring 5’x10’

For 100 storage units that are 5 feet by 10 feet, you’ll need 5,000 square feet of space. The estimated cost for materials ranges between $42,500 and $70,000.These estimates cover the cost of materials but do not include labor, land acquisition, permits, or other necessary expenses.

Construction Costs for a Self-Storage Facility

Beyond materials, the cost of erecting your self-storage building depends on several factors, including labor rates, contractor experience, and project complexity. Each contractor may use a different pricing formula, so it’s wise to obtain multiple quotes before making a decision.

Choosing the Right Contractor

When selecting a contractor to build your facility, consider more than just the price. The cheapest option isn’t always the best. Instead, ask potential builders:

How long have you been in business?
How many mini storage buildings have you built?
What experience does your team have with steel building construction?
Can you provide references from past projects?

Choosing an experienced and reputable builder ensures the project is completed efficiently and meets industry standards.

Other Costs to Consider

In addition to materials and construction, other costs will impact your overall budget, including:

Land acquisition – The cost of purchasing land depends on the location and zoning requirements.
Permits and zoning approvals – Local governments may have regulations and fees for new storage facilities.
Security features – Many storage businesses invest in surveillance cameras, gated access, and lighting to enhance security.
Insurance – Liability insurance and property coverage are necessary to protect your investment.
Marketing and branding – Once your facility is built, you’ll need to attract customers with signage, online advertising, and local promotions.

Is Building a Self-Storage Facility a Good Investment?

Self-storage is a profitable industry with low overhead and high demand, especially in areas with growing populations or limited residential storage space. With a well-planned facility, strong security measures, and competitive pricing, a self-storage business can generate steady revenue.If you’re considering building a storage facility, researching costs and choosing the right materials and contractors will help ensure a successful project. If you'd rather skip the start up costs and find storage units in Chesterfield, feel free to contact us!