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This paper studies a novel autonomous vehicle-based storage and retrieval system (AVS/RS) design with movable lifts (AVS/RS/ML). In the proposed system, there are aisle-captive lifts that are able to travel along the warehouse aisle to position themselves at the target column location. Those lifts can lift up/down the autonomous vehicles to/from the target storage compartment when they are in standstill. This novel design is proposed as an alternative to existing AVS/RSs to balance the resource utilizations as well as to provide an inexpensive solution with highly utilized autonomous vehicles (i.e., AGVs). As an initial work, for this novel system, two alternative operating designs under different racking configurations are experimented. We compare those two designs by their throughput rate performance metrics under the arrival rate scenarios with highly utilized AGVs (i.e., 95%). Besides, we experiment with two warehouse capacity scenarios: 900 and 1800 storage compartments. The results show that designs with two separate I/O point locations provide a better throughput rate than designs with single I/O point location. Besides, a decreased number of columns in the system improves the system’s performance.