Beer storage can probably be summarized in two words: dark and cool. Unless you're planning on multiple months of storage for a beer that needs the aging (ie. Barleywine, Trippel, etc.), a closet in the basement will be enough. Just make sure to keep the beer at stable temperatures.
Once you start planning for on keeping a beer for a year or more (not advisable for most styles) do you need to start thinking about proper cellaring. You can always get an electric wine cellar or put it in the fridge, altough a fridge is a harsh environment (mold spores abound, UV light, etc.)