The Mirador del Rio offers a spectacular view over the Rio. Rio literally means river, but in this case it refers to a channel that separates Lanzarote from two smaller islands just off the coast. The views are breathtaking and the Mirador itself is a fantastic structure.
There is a small entrance fee to enter the Mirador but the views are well worth it.
There are a few other Mirador that offer excellent views over the valleys and mountains as well.