Many of the towns around the Waikato have built a bit of a local thematic identity. For example, the Morrinsville “herd of cows”, hobbits near Matamata, and Tirau as the centre of corrugated iron. For Cambridge, it has historically been horse breeding, although it is arguably great cafes and restaurants today.
The best thing to happen to the town was the Waikato Expressway, which made it easier to get there while bypassing the town centre. Now, it is one of the prettiest town centres to explore in the region without worrying about heavy traffic.
There are two good short walks at either end of the main street, Victoria Road, as it runs through the town centre. One loop goes around Lake Te Ko Utu, and a second loop takes you over and alongside the Waikato River on Soldiers Track at the south end of the town centre.