Beyond its paths and plentiful benches, perhaps the best feature of Plaza Colon is its proximity to nearby attractions. It's steps from the Spanish National Library and National Archeology Museum, and a short distance to the Puerta de Alcalá and Retiro Park.
You can visit independently to admire the Columbus statue and modernist sculpture celebrating the discovery of America, or add a shopping excursion at the high-end boutiques on Serrano Street. If you're looking to relax, head to the Paseo de la Castellana—a charming, tree-lined arcade—for a rejuvenating stroll. You can also pass by on a sightseeing tour or tuk-tuk tour; most tours that include Madrid's central attractions pass Plaza de Colón and the national library.
Many sightseeing tours and even Christmas tours pass this central plaza, though independent travelers should arrive via metro. You can take the 4 metro line to the Serrano stop, and walk less than two blocks along Calle de Goya to the plaza.
Though there's really no bad time to visit Plaza de Colón, you should stop by during the day if you want to see the Spanish flag whipping in the breeze. Start or end your shopping excursion here, but remember that Madrileños keep odd hours. Shops close between 2pm and 5pm, and stay open as late as 8:30pm, when locals head out for a light dinner.
Next to Plaza de Colón you can find the National Archeology Museum (Museo Arqueológico Nacional), a prime destination for uncovering the cultural history of the Iberian Peninsula and greater Mediterranean. Find exhibitions on everything from Roman history to the Middle Ages covering three floors of galleries. Admission is reasonably-priced, and complimentary entry is offered on Saturday afternoons and Sunday mornings.
