Lexington is a nice town to walk. Park in the FREE Visitor Center parking lot all day to avoid the two hour parking restrictions on the street. This puts you near Virginia Military Institute and Washington & Lee University. Horse drawn carriage rides are available, but they're not necessary.   The shops and museums are great, but the best part of Lexington is the DRIVE outside of town. Take Route 39 past the Virginia Horse Center (stop in to watch one of the many horse shows for free) to the small town of Goshen, via Goshen Pass.

The first 5-10 miles isn't much to see, but the Goshen Pass part is gorgeous, stop at the Gorge Overlook, then stop at the picnic area,  finally about a mile or a mile and half past the picnic area, is an obscure path to the right, "wildlife managment area" turn on this path, drive a few hundred feet back to the maury river and park, there's a swinging bridge over the river, into the woods. Good view of the river mid way on bridge.

Continue on to Goshen, if you're up to the drive, a must see is the HOMESTEAD, and the ride is pretty also, with a roadside waterfall,

Walk around the grounds or have lunch there, walk around the town of hot springs, then head on toward warm springs and stop at the Jefferson pools, time for a real hot springs sulphur dip, costs $12.00 but maybe they really are healing waters as touted by Jefferson.

Head back on around to Lexington and stop and have a nice dinner.  Ask a local for recommendations.