Historic. Situated serenely on the Intracoastal Waterway, this open-air restaurant has Margaritaville written all over it. Tropical colors, decks stretching out over the water, live bands and thatched tiki huts lend itself to a festive atmosphere. Opened in 1889, this restaurant is known as the oldest waterfront restaurant in Florida. It has expanded outwards and upwards over the years due to its increasing popularity. Menu recommendations from this inspector include the crab cakes and Key lime pie. The Key lime pie is locally renowned as many people stop by just for dessert.