The house has plenty of 'storage'. [=the house has plenty of space in its closets, cabinets, etc.]
He kept his belongings 'in storage' [=he stored his belongings] until he found an apartment.
The table folds down 'for storage'. [=when you want to store it; when you are not using it]
(..) and I'm totally covered. Great. So we'll see you around. I got a place with an old friend of mine. Well, not so much of a place as a storage pod. And not so much of a... friend as a raccoon. Good to know you'll have company. I call him bubbles because his mouth is all foamy. (..)2012 TvShow: Modern Family Title: Bringing Up Baby Season: 4 Episode 1