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Storage cost is in a larger proportion of logistics cost. In order to analyze and compare the storage cost of warehouse leasing and expanding, storage cost models of warehouse leasing and expanding are established, using the reduced number of storage X as the parameters, and the relative parameters in the model are further discussed. Storage cost models built in this paper is practical, reasonable and operational. The cost of warehouse leasing can be calculated reasonably by using this model which also can be used to analyze and compare the cost of warehouse leasing and expanding in order to optimize decision-making.