Larry, I've got nearly the same situation, and use the room for storage & as a storm shelter. If you use it for storage, you'll want to first be sure the room doesn't flood in heavy rain (mine did). Also you'll need to provide a good air exchange for the room; otherwise it will likely remain damp enough to cause mildew problems. A dehumidifier may also be needed to control this. If you install an outdoor entrance, it would either need to be a covered stairway or have a good drain system at the bottom, which likely would mean adding a sump pump. Good Luck
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