Naismith Valley Park consists of a 25-acre area with a paved multipurpose trail on the western boundary of the park.  The trail starts at 24th Street and Naismith, which is just south of Natural Grocers on 23rd Street, and goes to 29th Terrace. It follows the creek south from 23rd Street and passes through both woodlands and fields.

The trail forks south of 27th Street and the right fork ends at the dead end at Missouri Street and the left fork in the trail extends south past a small lake to 31st Street just to the west of the Menards store. The park was one of the first greenbelt parks in Lawrence.

The park was acquired with a land grant and water conservation funds. Nineteen acres were initially purchased with a Land and Water Conservation Fund matching grant in 1972 and an additional 6 acres were added in 1975.