Are rising costs and stagnant rent growth cutting into your NOI? This white paper reveals how owners are transforming unused basements, rooftops, and shared spaces into consistent income. Learn how to grow property value, strengthen tenant satisfaction, and increase NOI without raising rent.

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	title="Unlocking Ancillary Revenue: Real-World Examples"
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## What's inside this white paper

- Real examples of buildings that converted unused space, including basements, rooftops, and shared amenity areas, into income-producing square footage
- How ancillary revenue shows up in net operating income, and what that means for overall property value
- What building types and floor plates tend to work well for a self-storage conversion
- How owners add a new amenity without disrupting the tenant experience in the rest of the building

## Why ancillary revenue matters right now

Operating costs keep climbing while rent growth has flattened in a lot of markets. For owners looking for NOI growth that doesn't depend on raising rent or leasing more of the building's primary square footage, converting already-underused space is one of the few levers still available. Basements, mezzanines, back-of-house rooms, and other areas that aren't currently generating income are the easiest place to start, since they aren't competing with your core leasable square footage or your existing tenants.

## Who this guide is for

This white paper is written for owners, asset managers, and developers evaluating whether underused space in an existing building could support a new revenue stream. It's most useful if you have vacant or hard-to-lease square footage, such as a basement, a dead mezzanine, or an underperforming retail unit, that isn't part of your primary leasing plan.

## Real examples referenced in this guide

The examples in this white paper mirror what we've seen with our own real estate partners, including a Mid-City Los Angeles office building that turned a hard-to-lease mezzanine into [$263,000 in annual income](/blog/real-estate-partners/how-swig-company-turned-a-dead-space-into-263k-in-annual-income-with-self-storage) and a Brooklyn building that converted basement square footage into 60 storage units at 90% occupancy.

## FAQ

**Is this white paper specific to self-storage?**

Self-storage is the primary strategy covered, since it requires the least structural work and can be added to most building types without disrupting existing tenants.

**What if I'd rather talk through my specific building first?**

Download the white paper, then visit [Stuf for real estate partners](/lp/realestatepartners) to see what your space could generate.

## Is your space a fit for this approach

Not every square foot is a good candidate for an ancillary revenue conversion. Space that tends to work well shares a few traits:

- It's vacant or underused, and doesn't fit the building's current office or retail tenant mix
- It has its own access point, such as a side entrance, loading dock, or private stairwell, separate from the main tenant flow
- It's difficult to subdivide or market as standard office or retail square footage
- There's no major structural blocker, like extremely low ceilings, that would rule out a build-out

If your space checks most of these boxes, it's likely one of the scenarios covered in the white paper.

**How long does it typically take to convert a space like this?**

Timelines vary by building and by how much work the space needs before it's ready, which is part of why the white paper walks through several different starting points rather than a single formula.

A free e-book of real-world examples showing how commercial property owners unlock ancillary revenue from underused space in their buildings.

Ancillary Revenue: Real-World Examples

Unlocking Ancillary Revenue: Real-World Examples

Discover new ways to unlock hidden income from your property. This repor highlights how owners are turning unused rooftops, basements, and shared spaces into steady NOI and creating new revenue streams without raising rent.

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	title="12+ Examples of Ancillary Revenue in Commercial Real Estate"
/>

## What's inside this compendium

Instead of one deep case study, this e-book walks through 12+ different ways owners are pulling ancillary revenue out of space that would otherwise sit idle: basements, rooftops, loading areas, shared amenity rooms, and other square footage that isn't part of a building's primary leasing plan. It's meant to be a broader survey of what's possible, so owners can see which approach fits their own building before committing to one.

## Why owners look beyond primary rent

Primary rent alone often can't absorb rising operating costs, especially in markets where rent growth has slowed. Ancillary revenue strategies exist because they let owners generate income from space that isn't competing with core leasable square footage, without asking existing tenants to pay more or renegotiating leases. For many buildings, self-storage is one of the more straightforward strategies to execute, since it requires comparatively little structural work and doesn't depend on foot traffic the way a retail concept would.

## Who this guide is for

This e-book is written for owners, asset managers, and developers who want a broad view of ancillary revenue options before narrowing in on one. If you already know self-storage is the right fit for your building, the [real-world examples white paper](/blog/real-estate-partners/unlocking-ancillary-revenue-real-world-examples) goes deeper on that specific strategy.

## Real examples referenced in this guide

Several of the examples in this compendium mirror results from our own real estate partners, including Jamestown's Boston building, which turned previously idle space into a new source of building income, and a Brooklyn basement converted into 60 storage units at 90% occupancy.

## FAQ

**Do I need to pick one strategy from the guide, or can I combine them?**

Most buildings only have room for one or two ancillary revenue strategies at a time, depending on available square footage and layout, but the guide is structured so you can compare options before deciding.

**How do I find out what my specific space could generate?**

Download the guide, then visit [Stuf for real estate partners](/lp/realestatepartners) to talk through the numbers for your building.

## How to use this guide

Rather than reading it front to back, most owners use this compendium to scan for the example closest to their own building: a basement, a rooftop, a shared amenity room, or overflow space that isn't currently generating income. Once you've identified the closest match, it's easier to judge whether that strategy could work for your specific floor plate before committing to a full evaluation.

**Does this guide cover self-storage in the same depth as the white paper on real-world examples?**

No. This compendium is intentionally broader, covering 12+ different strategies at a higher level. The real-world examples white paper goes deeper specifically on self-storage conversions.

A free e-book covering 12+ proven ancillary revenue strategies commercial real estate owners use to monetize underused building space.

Ancillary Revenue Examples in Real Estate

12+ Examples of Ancillary Revenue in Commercial Real Estate

About us\
\
At a Glance

**Property:** 8 Tremont St / 37 Court Square, Boston

**Partner:** Jamestown

**Space:** 2,000 sq. ft. overflow storage → 40 self-storage units (4x7 ft to 9x9 ft)

**Highlights:** $32 psf/year | 90% occupancy in 1 month | $1.1M in building value | Covered by Multi-Housing News & Yahoo Finance

## The challenge

At 8 Tremont St / 37 Court Square in downtown Boston, Jamestown had roughly 2,000 square feet of overflow storage space that wasn't generating any income for the building. It was functional square footage, just not productive square footage.

## The solution

Jamestown partnered with Stuf to convert the space into 40 self-storage units ranging from 4x7 ft to 9x9 ft, built out as a keyless, app-accessed facility with 24/7 AI-camera security. The conversion turned an operational cost center into a leasable amenity, without requiring any change to the building's core tenant mix.

## The results

The facility reached 90% occupancy within a single month of opening, generating $32 per square foot annually. That new income stream added an estimated $1.1M in building value, and the project was covered by Multi-Housing News and Yahoo Finance.

## Why it worked

Downtown Boston has a dense mix of office workers, residents, and small businesses, all of whom regularly need storage but rarely have a convenient option close by. Because the facility sits inside a building people already pass through daily, Stuf was able to fill units quickly instead of waiting on demand to build from scratch.

## What this means for other owners

Overflow or storage space that isn't part of a building's primary leasing plan is often the easiest place to start looking for new income. Jamestown's result, reaching 90% occupancy in a month, shows how quickly that kind of space can convert once it's built out properly. See similar results from The Swig Company in Los Angeles and [a Brooklyn developer](/blog/real-estate-partners/60-storage-units-90-occupancy-brooklyn-case-study).

## FAQ

**How fast did the facility reach 90% occupancy?**

One month from opening.

**How much value did the conversion add to the building?**

Roughly $1.1M, driven by the new $32 psf/year income stream from space that wasn't previously leased.

**What size units were built?**

Units ranging from 4x7 ft to 9x9 ft, across 40 total units in the converted space.

**Why did overflow storage space convert so quickly?**

The space was already inside a building people passed through every day, in a dense downtown location. That existing foot traffic and proximity meant demand didn't need to be built from scratch the way it would for a stand-alone facility.

## What this looks like for a space you're evaluating

Overflow storage, back-of-house rooms, and other space that isn't part of a building's core leasing plan are often the easiest starting point, since converting them doesn't require displacing an existing tenant. If your building has square footage sitting in a similar spot, [talk to Stuf about your property](/lp/realestatepartners) to see what it could look like.

**Did the conversion require any structural changes to the building?**

The build-out was contained to the existing overflow storage footprint, so it didn't require reworking the building's core layout or displacing another tenant to make room.

For comparison, see how a Brooklyn basement conversion and the Swig Company mezzanine project played out in very different building types.

How Jamestown converted idle building space into a Stuf storage facility, adding roughly $4,000 a month in income and $1.1M in value.

How Jamestown Turned Idle Space Into $1.1M

From Idle Space to $1.1M: How Jamestown Boosted Building Value with Storage

[Download the case study (PDF)](https://stuf-user-content.s3.us-east-2.amazonaws.com/marketing/pdfs/Stuf_CaseStudy-GerardRealEstate.pdf)

ABOUT\
\
At a Glance

**Property:** 951 Madison St, Brooklyn, NY

**Partner:** Gerard Real Estate (local NYC developer)

**Space Converted:** 3,500 sq. ft. basement

**Highlights:** 60 storage units | 90% occupancy in 4 months | $19 psf/year | $1.1M value uplift | Buildout cost $25 psf

## The challenge

Gerard Real Estate had a 3,500-square-foot basement at 951 Madison St in Brooklyn that wasn't part of the building's leasable plan. Basements like this rarely attract a standard commercial tenant, so the space had effectively been written off as unproductive.

## The solution

Gerard partnered with Stuf to build out the basement into 60 self-storage units, keyless and app-accessed, with 24/7 AI-camera security. The buildout cost came to $25 per square foot, a modest investment against the income the space could generate once leased to local residents and businesses.

## The results

The facility filled to 90% occupancy within four months of opening, generating $19 per square foot annually from space that had previously produced nothing. That new income stream added an estimated $1.1M in building value, well above the initial buildout cost.

## Why it worked

Brooklyn's residential density means demand for storage is high, but most buildings in the neighborhood don't have a convenient, secure facility nearby. Converting a basement that was already part of the building meant Gerard didn't need to find a new site or negotiate a separate lease; the supply and the demand were both already in place.

## What this means for other owners

A 4-month ramp to 90% occupancy shows how quickly basement space can convert into stable income once it's built out. If you're evaluating a similar basement, mezzanine, or overflow area, see how The Swig Company and [Jamestown](/blog/real-estate-partners/from-idle-space-to-million-how-jamestown-boosted-building-value-with-stuf-storage) did the same.

## FAQ

**How long did it take to reach 90% occupancy?**

Four months from opening.

**What did the buildout cost?**

$25 per square foot, recovered through the facility's ongoing rental income.

**How much value did the conversion add to the building?**

An estimated $1.1M, based on the new $19 psf/year income stream from the converted basement.

**Why did the basement fill up so quickly?**

Brooklyn's residential density meant there was already demand for secure, nearby storage. Since the facility was built inside a building people already lived near, Stuf didn't need to generate awareness from scratch the way a stand-alone facility would.

## What this looks like for a space you're evaluating

Basements are one of the most common starting points for a conversion like this, largely because they're rarely part of a building's core leasing plan to begin with. If you're sitting on unused basement square footage in a dense residential area, [talk to Stuf about your property](/lp/realestatepartners) to see what it could generate.

**Was any structural work required to build out the basement?**

The buildout was contained to the existing basement footprint, so it didn't require reworking the building's structure or displacing another tenant.

For comparison, see how Jamestown converted overflow storage space in Boston and how The Swig Company converted a mezzanine in Los Angeles.

How a Brooklyn building turned unused basement square footage into 60 storage units at 90% occupancy and $1.1M of added asset value.

Brooklyn Storage Case Study: 90% Occupancy

60 Storage Units, 90% Occupancy, $1.1M Value: A Brooklyn Case Study

ABOUT\
\
At a Glance

**Property:** 6300 Wilshire Blvd, Mid-City Los Angeles

**Partner:** The Swig Company

**Space:** 3,500 sq. ft. mezzanine (expanded to 8,000 sq. ft. in 2025)

**Highlights:** $263,000 annual revenue (\~$33/sf) | 90% occupancy in 5 months | Strong waitlist | Featured in ABC7 News

## The challenge

A 3,500-square-foot mezzanine at 6300 Wilshire Blvd sat mostly unused. It wasn't the kind of floor plate that attracts a typical office or retail tenant, and it had been sitting as dead weight on the building's rent roll rather than contributing to it.

## The solution

The Swig Company partnered with Stuf to convert the mezzanine into a keyless, app-accessed self-storage facility, monitored 24/7 with AI-powered security cameras. Instead of continuing to sit vacant, the space was rebuilt into storage units serving Mid-City Los Angeles residents and nearby businesses that needed a secure, convenient place to store their belongings.

## The results

Within five months of opening, the facility reached 90% occupancy and built a waitlist for additional units. Annual revenue landed at $263,000, roughly $33 per square foot on a floor plate that had previously been generating nothing. The results were strong enough that Swig expanded the footprint to 8,000 square feet in 2025, and the project was featured on ABC7 News.

## Why it worked

Mid-City Los Angeles is dense with residential buildings and businesses that need storage but don't have a convenient, secure option nearby. Putting self-storage directly inside an existing office building meant the demand was already there. Swig didn't need to attract new tenants from scratch, only capture existing local demand with a space that was already sitting idle.

## What this means for other owners

The Swig project is a useful reference point for any owner sitting on a hard-to-lease floor, whether it's a basement, a mezzanine, or an awkward retail unit. If the space isn't attracting standard tenants, it may still generate meaningful income as self-storage. See how [Jamestown](/blog/real-estate-partners/from-idle-space-to-million-how-jamestown-boosted-building-value-with-stuf-storage) and a Brooklyn developer did the same with their own underused space.

## FAQ

**How long did it take to reach 90% occupancy?**

Five months from opening.

**Did Swig expand the space after it proved successful?**

Yes. The original 3,500-square-foot mezzanine was expanded to 8,000 square feet in 2025.

**What was the annual revenue per square foot?**

Roughly $33 per square foot, on a floor plate that had been generating no income before the conversion.

**Why did Swig choose self-storage instead of another use for the mezzanine?**

The floor plate's layout made it a poor fit for a standard office or retail tenant, but that same layout, an odd, hard-to-subdivide space with its own access, is exactly what works for a self-storage build-out.

## What this looks like for a space you're evaluating

If you're sitting on a mezzanine, basement, or other hard-to-lease floor plate, the questions worth asking are similar to the ones that applied at 6300 Wilshire Blvd: does the space have its own access point, is it currently producing zero income, and is there residential or business density nearby that would need convenient storage? If the answer to those is yes, it's worth a [conversation with Stuf about your property](/lp/realestatepartners).

How The Swig Company turned a dead, hard-to-lease floor into a self-storage facility generating $263K in annual income.

Real Estate Partners

Unlocking Ancillary Revenue: Real-World Examples

12+ Examples of Ancillary Revenue in Commercial Real Estate

From Idle Space to $1.1M: How Jamestown Boosted Building Value with Storage

60 Storage Units, 90% Occupancy, $1.1M Value: A Brooklyn Case Study

How The Swig Company Turned a ‘Dead’ Space into $263K in Annual Income with Self-Storage