The exceptional properties of high-grade graphene make it an ideal candidate for thermal dissipation and heat exchange in energy applications and nanofluid development. Here, we present a comprehensive study of few-layer graphene (FLG) nanofluids prepared in an industrial context. FLG nanofluids were synthesized through an ultrasound-assisted mechanical exfoliation process of graphite in water with a green solvent. This method produces FLG of high structural quality and stable nanofluids, as demonstrated by electron microscope, dynamic light scattering and ζeta potential analyses. Thermal conductivity measurements of FLG-based nanofluids were conducted in the temperature range of 283.15 K to 313.15 K, with FLG concentrations ranging from 0.005 to 0.200% in wt. The thermal conductivity of FLG nanofluids is up to 20% higher than water. The modeling of nanofluid thermal conductivity reveals that this enhancement is supported by the influence of the thermal resistance at the FLG interface, and the content, average dimensions and flatness of FLG sheets; this latter varying with the FLG concentration in the nanofluid. Additionally, the density and heat capacity of FLG suspensions were measured and compared with theoretical models, and the rheological behavior of FLG nanofluids was evaluated. This behavior is mainly Newtonian, with a weak 5% viscosity increase.