For a place that's not by the water, and of course is commensurately cheaper due to that fact, I like the motel connected to Adrians restaurant:

http://www.adriansrestaurant.com/index.shtml

The restaurant has some of the best breakfast I've ever had. I don't remember the name of the attached motel, but if you email them I'm sure they'll happily oblige. Bear in mind the motel is somewhat bare-bones, but depending on your budget may be a very good choice.

Wherever you stay, make certain you have breakfast at Adrians at least once during your stay.