8-Pump Gas
For Sale
Under Contract
$1,500,000
9495 Waukeenah Highway, Monticello, FL 32344
CommercialSale, Monticello, FL
Property Size4,880 SF
Lot Size1.74 Acres
Price / SF$307.38
Days on Market118
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
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: Sep 8
Last Checked: Sep 27 at 10:06PM
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 gas station property includes eight fuel pumps and a 4,880-square-foot concrete-block building with central heating and central air conditioning. The improvements occupy 1.74 acres and are being offered in as-is condition, with inspection rights. The pumps and underground tanks were upgraded in 2022.
The site is positioned at the intersection of US Hwy 27 and Waukeenah Hwy. Public water serves the property. When fully operational, the station has averaged 80,000 gallons of fuel sales per month. A national branded AMCO TO GO convenience store is identified as an available operating option for a buyer choosing to continue the property as a gas station.
The site is positioned at the intersection of US Hwy 27 and Waukeenah Hwy. Public water serves the property. When fully operational, the station has averaged 80,000 gallons of fuel sales per month. A national branded AMCO TO GO convenience store is identified as an available operating option for a buyer choosing to continue the property as a gas station.
Key Highlights
- Eight fuel pumps with pumps and tanks upgraded in 2022
- 4,880 SF concrete‑block building with central heating and central air
- 1.74‑acre site at US Hwy 27 and Waukeenah Hwy
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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Corner-site fuel property with a conditioned concrete-block building and convenience-store use potential.
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: Eight fuel pumps with pumps and tanks upgraded in 2022; 4,880 SF concrete‑block building with central heating and central air; 1.74‑acre site at US Hwy 27 and Waukeenah Hwy
