Sorry, thought someone else would've chimed in! Well yes
Tollwood offers cocktails, music and is a local fest and I like it there.. the food is just from stands though (there are benches to sit down on) and the shows you generally have to buy tickets in advance. Have you looked at their website to see what is on that evening?
As far as I can remember, it's only open till 11pm so then you could head into town after that, do the walk I suggested to see the main shopping area, fountain, cathedral and go into the pubs around.
Sausalitos am Tal does cocktails but gets very busy!