A storage unit having a back panel, a top panel attached to the back panel, a bottom panel attached to the back panel, a pair of opposing side panels attached to the back, top and bottom panels so as to define a housing having an interior, and a plurality of shelf members positioned within the interior of the housing and arranged in a vertically oriented fashion. The shelf members are removably mounted to the back panel and opposing side panels. The storage unit further comprises a plurality of divider members removably positioned between (i) each pair of consecutive shelf members, (ii) the top panel and an uppermost shelf member and (iii) the bottom panel and a lowermost shelf member. The divider members define a plurality of compartments. In one embodiment, the compartments function as drawer-receiving spaces wherein each drawer-receiving space is sized for receiving a corresponding drawer. Each divider member can be repositioned to provide compartments of varying sizes.