Start at Plaza Mayor, the easiest place to get your bearings in central Madrid and a good first taste of the city’s old backbone. Even in just 45 minutes, you’ll see why locals still drift through here for a coffee, a meet-up, or a slow walk under the arcades. The square is busiest in late afternoon, which actually makes it feel more alive; just keep an eye on pickpockets and don’t overpay for anything around the perimeter cafés. From here, it’s an easy 5–10 minute stroll through Centro to your next stop, with plenty of little side streets worth a glance if you want to wander a bit.
Head next to Mercado de San Miguel, which works beautifully as a first-food stop because you can graze without committing to a full meal. It’s more polished and pricier than a neighborhood market, so expect about €20–35 per person if you sample a couple of tapas, a glass of vermouth, or a quick caña. Go in with a light appetite and enjoy the mix of croquetas, jamón, oysters, and little bites at the counters; it’s one of those places where standing and people-watching is half the fun. After that, continue on foot toward Catedral de la Almudena and then Royal Palace of Madrid—they sit close enough together that this feels like one seamless walk through Madrid’s most stately corner. The cathedral is worth a short stop mainly for the calm interior and the views toward the palace area; if you have time, it usually stays open into the evening, though hours can shift on holidays. For the Royal Palace of Madrid, plan about 1.5 hours if you want the full first-day “wow” factor; tickets are usually around the mid-teens, and the exterior is especially striking in the softer light before sunset.
Finish with dinner at Casa Lucio in La Latina, which is exactly the kind of place that feels right after a palace-and-plaza day: traditional, unfussy, and very Madrid. This is a reservation-friendly spot, especially on Thursdays and weekends, and the bill typically lands around €35–60 per person depending on wine and how many plates you share. If you want the signature experience, go for their famous huevos rotos, then let the night slow down instead of trying to cram in more sights. From here, you’re perfectly placed to wander a few nearby streets after dinner if you still have energy, but honestly this first day works best when you keep it loose and let the city set the pace.