Thermal conductivity and viscosity of graphite suspensions were experimentally studied by the transient hotwire method and ARG2 method, respectively. The thermal conductivity of the grpahite suspensions at different volume fractions and sonications times were measured and thermal percolation behavior was observed. The viscosity shows the opposite trend compared to the thermal conductivity near the percolation regime. Specifically, the thermal conductivity increases much faster with volume fraction at low volume fractions than after the percolation threshold. In contrast, the viscosity increases more rapidly after the percolation threshold, than at low volume fractions.