Technically called Smith Commons, this cafeteria bar might be the cheapest and most sweetly situated watering hole in Miami. Located at the rear of the University of Miami's Rosenstiel School campus and protected by an often-unmanned guard gate, it's a little hard to reach. And it's open only Thursdays and Fridays. When you arrive at the campus, just follow signs for "The Commons" all the way at the back of the school. Walk down the hallway (lined with stuffed sharks) and make a left at the awesome fish tank. The bar is at the back of the cafeteria. Pints of Colorado microbrew go for about $3. The patrons are smart and congenial, so don't bother coming if you're a stupid jerk. Enjoy your beer outside while overlooking the marine school's unspoiled beach and view of Key Biscayne's undeveloped shore. The sunsets are beautiful, and there's a small service window so you don't have to go inside to get another round.