Are both sentences the same?
It's a short way, You can walk there.
It's a short way, You can walk it there.

Question

Are both sentences the same?
It's a short way,  You can walk there.
It's a short way,  You can walk it there.

Answer

They are similar but slightly different. The first sentence is saying that you can walk there while the second sentence refers to you walking with something  such as if you are carrying something. A similar sentence that would be correct also would be "It's a short way, You can walk to it"
Hope this helps

Answer

Both sentences are correct although the second one sounds informal.