Is there a good park, maybe water feature? for walking or hiking or kids playground?

Nope

No

There's the Glendale Hills Trailhead that's a short drive from The Oinkster and the closest parks are Eagle Rock Recreation Center and Carr Park.

No, and I don't see why you would bring kids here. Food is too expensive to bring kids, and they likely won't notice the difference in food between this and Chuck E. Cheese down the street anyway.

No, it's in the middle of a busy stretch of Colorado Blvd, not really the place for parks