Tribble Mill has an interesting network of hiking trails that go down by the lake, past several streams, and access some very cool slabs of slickrock.
From 85 North, take 316 to Grayson Highway (20). Take a right. Take 20 to Scenic highway, take a left. Look for New Hope road, take a right. Stay on New Hope for about 5-6 miles, take a right onto Tribble Mill Parkway. Park Off the side of the road just across the big red bridge, or keep going around the circle to the parking lot.
http://www.tripleblaze.com/trail.php?c=3&i=207