Corner Gas Station and Convenience
For Sale
Under Contract
$1,500,000
9495 Waukeenah Highway, Monticello, FL 32344
COMMERCIAL - Monticello, FL
Property Size4,880 SF
Lot Size1.74 Acres
Price / SF$307.38
Days on Market93
Property Features for 9495 Waukeenah Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
12
Lot features
Level
Directions
From Tallahassee Hwy 27 to LT Waukeenah Hwy, on RT
Subdivision
Jefferson
Standard status
Active Under Contract
Lot size
1.74 Acres
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
heated and cooled
Building Details
Number of units
1
Building materials
Block, Concrete
Listing Agency:
Waypoint Properties
(850) 926-9100
Listed By:
Elaine Gary · License #3083458
(850) 509-5409
Added: Jun 2
Changed: Aug 4
Last Checked: Sep 2 at 2:06PM
MLS# 402579
Copyright © 2026 Tallahassee Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This corner gas station and convenience store features eight gas pumps supporting a 4,880-square-foot, heat-cooled concrete block building. The site includes on-site fuel infrastructure and is offered for sale in “AS IS” condition with the right to conduct inspections.
The property is located on the corner of US Hwy 27 and Waukeenah Hwy in Monticello, Florida. The listing notes a high traffic count for the location.
The operation is described as capable of averaging 80,000 gallons of gas per month when fully operational. The remarks also indicate pumps and tanks were upgraded in 2022, and that a national branded AMCO TO GO C-Store is planned if the buyer chooses to operate it as a gas station.
The property is located on the corner of US Hwy 27 and Waukeenah Hwy in Monticello, Florida. The listing notes a high traffic count for the location.
The operation is described as capable of averaging 80,000 gallons of gas per month when fully operational. The remarks also indicate pumps and tanks were upgraded in 2022, and that a national branded AMCO TO GO C-Store is planned if the buyer chooses to operate it as a gas station.
Key Highlights
- 8‑pump gas station/convenience store on the corner of US Hwy 27 and Waukeenah Hwy
- 1.74‑acre site with a 4,880 SF heat‑cooled concrete block building
- When fully operational, averages 80,000 gallons of gas per month
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$55,734
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.72%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,114,680
$1.1M
Cap Rate 7%
$796,200
$796.2K
Cap Rate 9%
$619,267
$619.3K
Market Conditions
NOI Build-Up for 4,880 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$79.1K $16.20/SF
− Vacancy
−$4.7K −$0.97/SF
EGI
$74.3K $15.23/SF
− OpEx
−$18.6K −$3.81/SF
NOI
$55.7K $11.42/SF
Area
Jefferson County, FL
Vacancy
6.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,114,680
Cap Rate 7%
$796,200
Cap Rate 9%
$619,267
Alternative Uses
Best Use
Specialty Retail
$796.2K
$696.7K – $928.9K
NOI $55,734 @ 7.0% cap · market cap 3.72%
Second Best
Retail
$677.1K
$592.5K – $790.0K
NOI $47,397 @ 7.0% cap · market cap 3.16%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,745 @ 7.0% cap · market cap 5.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
26
Businesses Nearby
Explore this area
Business Placement
Demographics for 32344, FL
12,705
Population
5,988
Households
2.1
Avg Household Size
49
Median Age
21%
College-Educated
87%
High-School Grad
444.6 sq mi
ZIP Area
29
Density / Sq Mi
$52,222
Median Household Income
$37,131
Median Earnings
$776
Median Rent
$208,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Gas station - 8-pump gas station with a heat-cooled concrete block convenience store on a corner lot.
Where is this gas station located?
The property is located at 9495 Waukeenah Highway Monticello, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 8‑pump gas station/convenience store on the corner of US Hwy 27 and Waukeenah Hwy; 1.74‑acre site with a 4,880 SF heat‑cooled concrete block building; When fully operational, averages 80,000 gallons of gas per month
