Monorail Station - Magic Kingdom
You don't have to be staying at the Disney resort in order to go there, so you can easily do "resort hopping" and visit many Disney properties to enjoy the decor, shopping and restaurants.
You can enjoy nightly Electric Water Pageant in Bay Lake from Disney's Contemporary Resort. The water parade is spectacular!
There are many places inside Disney's Contemporary Resort to watch nightly fireworks that take place in nearby Magic Kingdom.
Magic Kingdom Park
Magic Kingdom Park is about 15 minute walk from the Contemporary Resort (Chef Mickey's restaurant is inside the resort.) It is a fairly straightforward and easy walk. Alternatively, you can take monorail from the Magic Kingdom to the Contemporary Resort.