The Old Railroad, as its name suggests, is a multi-use trail that occupies a former Boston and Maine Railroad corridor. The trail picks up at the northern trailhead of the Common Pathway, a paved rail trail that stretches 6.5 miles to Noone Falls. The trail is usable year-round, with cross-country skiers taking full advantage in the wintertime. Leashed dogs are also welcome on the trail.

To reach the trailhead near the Peterborough Recycling Center from the intersection of NH-101 (Wilton Road) and NH-123, head north on Granite Street (US-202), and go 4.1 miles; the road becomes Pine Street, then US-202 East (Concord Street), then Hancock Road. Turn right onto Scott Mitchell Road, go 0.2 miles, and turn right into the trailhead parking lot, immediately after Sanitation Lane.

The Old Railroad Trail is a hard-packed dirt trail that winds through forests surrounding the Contoocook River for 2.7 miles from the Peterborough Recycling Center to Forest Road in Hancock.