Microneurography and the use of selective microelectrodes that can resolve single-unit nerve activity have become a tool to understand the coding within the nervous system and a clinical diagnostic tool to assess peripheral neural pathologies. Central to these techniques is the use of the differences in the shape of the extracellular action potential (AP) waveform to identify and discriminate units from one another. Theoretical modeling of the origins of these shape differences has shown that the position of the nerve fiber relative to the electrode and the conduction velocity of the unit contribute to these differences giving rise to the hypothesis that more information about the fiber and its relationship to the electrode could be extracted given further analysis of the AP waveform. This paper addresses this question by exploring the electrical coupling between the electrode and nerve fiber. Idealized models and the literature indicate that two parameters, the electrode-fiber distance and the unit conduction velocity, contribute to the amplitude of the extracellular AP detected by the electrode, which confounds the quantification of coupling using the spike amplitude alone. To resolve this, we develop a method that enables differential quantification of these two parameters using spectral analysis of the single-unit AP waveform and demonstrate that the two parameters could be effectively decoupled in an in vitro earthworm model. The method could open the way forward toward micro-scale in situ monitoring of the interaction of nerve fiber and neural interface.