It's actually exactly 3/4 of a full lap on a traditional 400M track. One full lap is .2485 miles (400M out of 1609.344M in a mile).
Easiest and best way to look at it is you are going to travel around 3 parts of the track, I assume you are looking at a 300 meter run. It's basically 3 our of 4 major parts of a track. Two straightaways and a curve or two curves and one straightaway will give you the number you are looking for (as each part of the track is 100 meters or .06213 miles (.06213*3=.18642)).
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