It's a long hike, but there are benches to sit on and take a break so it's not all or nothing. You do need to dedicate your day to it and take your time and take it all in.
Walking around the entire lake takes a good bit of time and requires you to cross a creek. Depending on ground water run off at the time it can be hard to stay dry. If you want distance mapmyrun is a good resource.
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