We have a local attraction that is about an hour (maybe a little more or less depending on traffic). We have annual passes, so we go a few times a year. The attraction also has fireworks and laser show many nights. Anyhow, if we were planning a full day there, I have looked into renting a hotel room...haven't bit the bullet yet, instead we do partial days a few times a year. (And maybe once a year stay past 3 or 4 in the afternoon).
So I would say if I wanted a full day, I would probably drive early in the morning and then spend the night (maybe have an afternoon break at the hotel) if we are talking anything much more than an hour. I might still consider a partial day if it were up to 2 hours away and we had passes. I am not a late night person, though, so I would probably need to go early and leave afternoon. If I wanted to do the nighttime stuff, I would probably need a hotel (unless DH was driving).