I've got two small girls, and a walk in closet....This may seem a bit "over the top", but the shelving on one end of it, ended up making the perfect "lab"..All liquids (nics, base, flavorings) are up on higher shelves..(either existing or custom built)..So in a nutshell...
* Outta site, outta mind
* Should they get in, everything's too high up to reach
* Darkness (supposed to be good for all liquids, of course when I'm not mixing and the light's on lol)
But for your original question, storage alone..Especially with a 1 year old...I would make sure everything you have or get, has childproof caps..just in case..I've read numerous posts about keeping your nic in the fridge, freezer or not..and haven't found any that swayed me either way...GOOD LUCK!!!