As it was shown recently that nanostructures can exist in water-ethanol-citronellol tinctures, a deeper investigation of these media was performed using conductivity, UV-Vis and FT-IR spectroscopy techniques. Different regimes of conductivity, depending on the water content, an increase of the polarity of the polar pseudo-phase with increasing water content, and even the presence of free water molecules at higher water content are observed, just as in classical surfactant-based microemulsions. The percolation model, generally used to fit conductivity data in surfactant based microemulsion having a weak interfacial film, can be used to fit our conductivity data below a critical water content Φ(p)(w) with a critical exponent typical of dynamic percolation. In presence of higher water contents, superior to Φ(p)(w), obtained conductivity data cannot be fitted neither with a static nor a dynamic percolation model. As in surfactant-based microemulsions, an increase of polarity of the microenvironment with increasing water content can be postulated using respectively the UV-Vis wavelength absorption band (λ(max)) of methyl orange and performing FT-IR spectra.