Abstract: A storage unit for storing a bicycle or the like has an overall vertical dimension greater than an overall horizontal dimension, such that the storage unit provides an enclosed area for storing the bicycle in a substantially inclined position. Specifically, the storage unit stands upright or "on end" for storing the bicycle in the inclined position. As such, ground surface area usage is minimized. The storage unit includes an inclined ramp within the enclosed area for providing lift to a wheel of the bicycle as the bicycle is moved into the enclosed area and into the substantially inclined position. A tire-stop cross member is disposed within a lower portion of the enclosed area for providing support to a wheel of the bicycle for retaining the bicycle in the substantially inclined position. The storage unit comprises a plurality of modular panels and may be combined with other storage units such that a common wall is shared between any two adjacently joining storage units.