diff --git a/docs/en_US/release_notes_4_18.rst b/docs/en_US/release_notes_4_18.rst
index afd91a4d1..c1ed295f6 100644
--- a/docs/en_US/release_notes_4_18.rst
+++ b/docs/en_US/release_notes_4_18.rst
@@ -22,4 +22,5 @@ Bug fixes
 
 | `Issue #3812 <https://redmine.postgresql.org/issues/3812>`_ -  Ensure that path file name should not disappear when changing ext from the dropdown in file explorer dialog.
 | `Issue #4827 <https://redmine.postgresql.org/issues/4827>`_ -  Fix column resizable issue in the file explorer dialog.
+| `Issue #5025 <https://redmine.postgresql.org/issues/5025>`_ -  Fix an issue where setting STORAGE_DIR to empty should show all the volumes on Windows in server mode.
 | `Issue #5074 <https://redmine.postgresql.org/issues/5074>`_ -  Fix an issue where select, insert and update scripts on tables throwing an error.
\ No newline at end of file
diff --git a/web/pgadmin/misc/file_manager/__init__.py b/web/pgadmin/misc/file_manager/__init__.py
index 19eecc1a6..c3bd72b4d 100644
--- a/web/pgadmin/misc/file_manager/__init__.py
+++ b/web/pgadmin/misc/file_manager/__init__.py
@@ -598,8 +598,6 @@ class Filemanager(object):
             Filemanager.resume_windows_warning()
             return files
 
-        if dir is None:
-            dir = ""
         orig_path = Filemanager.get_abs_path(dir, path)
 
         if not path_exists(orig_path):
@@ -693,12 +691,13 @@ class Filemanager(object):
         # absolute path.
         orig_path = os.path.abspath(orig_path)
 
-        if _platform == 'win32':
-            if dir[-1] == '\\' or dir[-1] == '/':
-                dir = dir[:-1]
-        else:
-            if dir[-1] == '/':
-                dir = dir[:-1]
+        if dir:
+            if _platform == 'win32':
+                if dir[-1] == '\\' or dir[-1] == '/':
+                    dir = dir[:-1]
+            else:
+                if dir[-1] == '/':
+                    dir = dir[:-1]
 
         # Do not allow user to access outside his storage dir in server mode.
         if not orig_path.startswith(dir):
@@ -710,7 +709,7 @@ class Filemanager(object):
     def get_abs_path(dir, path):
 
         if (path.startswith('\\\\') and _platform == 'win32')\
-                or config.SERVER_MODE is False:
+                or config.SERVER_MODE is False or dir is None:
             return u"{}".format(path)
 
         if path == '/' or path == '\\':
@@ -823,8 +822,8 @@ class Filemanager(object):
         trans_data = Filemanager.get_trasaction_selection(self.trans_id)
         dir = None
         if config.SERVER_MODE:
-            dir = self.dir if self.dir is not None else ''
-            if not dir.endswith('/'):
+            dir = self.dir
+            if dir is not None and not dir.endswith('/'):
                 dir += u'/'
 
         filelist = self.list_filesystem(
diff --git a/web/pgadmin/setup/data_directory.py b/web/pgadmin/setup/data_directory.py
index 8433f994b..581643d1b 100644
--- a/web/pgadmin/setup/data_directory.py
+++ b/web/pgadmin/setup/data_directory.py
@@ -12,7 +12,7 @@ from flask import current_app
 
 
 def _create_directory_if_not_exists(_path):
-    if not os.path.exists(_path):
+    if _path and not os.path.exists(_path):
         os.mkdir(_path)