2. Provide protection
Here is what I ride with that may fit the requirements:
I'm not certain that the original poster will find them acceptable as "Inexpensive," but they do measure up to the other requirements.
As other posters have suggested, "ride with your motorcycle boots and then change into another pair of shoes for walking." I take a pair of running shoes with me on trips, so I can have some comfortable shoes for walking around the motel room/lobby and for walking acroos the street to a restaurant.