This is most likely due to a hot water heater overflow that ran through my garage. I remember seeing the evidence that there had been some water coming from the overflow pipe in the drain pan but I didn't think it had made it to the safe. I guess it did

Just finished scraping and sanding off the worst of it and I'm going to hit it with some naval jelly. Doesn't seem too severe but it is beyond surface rust in some places. No where near rusting through though. I think I'm going to put a layer of plastic under it when I stand it back up to keep the ever present moisture from the slab from getting to it. Unfortunately the only place I can put the thing is in the garage. I've had 3 of those little rechargable de-humidifiers in it for years and despite needing to be plugged in and dried out every other week the guns all seem fine. I'm adding an electric de-humidifier into the safe as well.
If you have a safe in your garage make sure you check the bottom of it every once in a while.