Penny Lake Preserve is a freshwater wetland with adjoining woodlands and open field. There is a .5-mile loop trail between the kiosk and a wooden bridge with bench seats. This loop trail features an apple orchard as well as woodland sections. Alternatively, visitors can choose several options for out-and-back trails, which cross the bridge. The trails are all easy hiking.  An abundant variety of wildlife may be viewed, including migratory and nesting birds, turtles, beavers, deer, and even a very occasional moose. In addition, numerous plants thrive in this varied natural habitat, from wildflowers to cattails and from hardwood trees to evergreens.

Located in downtown Boothbay Harbor, the property includes a 29-acre parcel plus a 25-acre easement. Situated close to the YMCA, Boothbay schools, and Saint Andrews Village retirement community, this preserve enjoys frequent and regular use by local residents as well as visitors for walking, running, dog-walking, and exercise.

From the traffic light at the junction of ME-27 and ME-96 go north just 0.1 of a mile. Turn left between the Boothbay Harbor Chamber of Commerce and the Flagship Inn and proceed down past the Carousel Theater to the Boothbay Region Land Trust parking area.