All extracted resources, materials, and tools from the plot are stored here. Only the owner or renter of the plot has the right to use the storage. If the land parcel is a free plot, then all stuff left here will appear in the local storage and anyone can look over its contents. Anyone can take things from the storage on a free plot. If you are extracting resources on a plot, they will appear in the local storage of that plot.
The total amount of local storage is limited: 12 slots. You can move anything from the storage to the backpack, sell or use for your purposes.
Here are all the things and their quantity that you own