My wife and I happened upon Fanizzi's by the Sea by chance several years ago, while walking down the south end of Commercial Street. It is a bit of a hike from the center of town, but worth it. We happened by the first time during their advertised $14.99 three-course dinner (from about 4:30-6:00), so decided to give it a try. For the price we were able to choose from soup or chowder or salad, 5 decent entrees (one of which, mussels over linguini in a white wine sauce, we've stuck to every time it is so good). The so-called third-course is only coffee or tea, so I would really term it a two-course+ meal, but it is still a bargain. Their regular prices from the main menu seem to be average for the area, but you can't beat a good quality bargain priced meal up until 6:00 (orders must be in by 6:00), and if you get (ask for) a table on the harbor side, it is right on the beach/water at high tide. Drink prices are reasonable as well.
This review is the subjective opinion of a TripAdvisor member and not of TripAdvisor LLC.