storage space vs area

storage space and area both are nouns.

Word	Noun	Adjective	Verb	Adverb
storage space	Yes	No	No	No
area	Yes	No	No	No

As nouns, area is a hypernym of storage space; that is, area is a word with a broader meaning than storage space:

storage space (noun)	area (noun)
the area in any structure that provides space for storage	a part of a structure having some specific characteristic or function
	the extent of a 2-dimensional surface enclosed within a boundary
	a part of an animal that has a special function or is supplied by a given artery or nerve
	a subject of study
	a particular geographical region of indefinite boundary (usually serving some special purpose or distinguished by its people or culture or geography)
	a particular environment or walk of life