Penacook Lake, also known as Long Pond, 362 acres, is the source of the Contoocook River, which flows north to the Merrimack River. The lake has a maximum depth of 29 feet and an average depth of 13 feet. The lake has two public boat ramps, one at the north end and one at the south end. The lake is surrounded by residential and commercial development, as well as some wooded areas and wetlands. The Penacook Lake Watershed Association works to protect and improve the water quality and natural resources of the lake and its tributaries.

Lake View Drive follows the northwest shore of the lake.