Bring your helmet along, they are quite strict about this. You may seriously want to consider hiring a Segway, this you will enjoy and the local kids will think you are megacool and high five you everywhere. Best place to consider renting a Segway or even a bicycle from are the excellent peops located in the newish Tel-Aviv port. I left my cellphone behind in their offices and they repatriated it back to me before I even knew it was missing! Sadly dont have their exact location but its behind the main entertainment promenade of port.
But I digress. With a bike it is a great ride along the coast either south or north. The Israel National trail along the coast all the way past the Sde Dov airfield onwards to Netanya. From Jaffa all the way along the coast towards Netanya will net you about 20 miles then another 20 miles back.
Southerly direction along the beach (do stop at the Banana bar for a 30 shek beer, awesome sunsets and great music) towards Jaffa (alighting here could lose you a whole day alone with the sights). With many places to stop for cafe chazak + boreksim. Perhaps also towards Jaffa along the coast be sure to stop at Abulafias by the clocktower. On Shabbos I always head down here and grab a dozen pitas with hummus. Also is a place called Abu Nassans in Jaffa for superior Techina + Hummus variations of magic. You may have to ask around for directions, its easy!
Below is a cursory best 5 of Tel Aviv cuisine:http://www.marilynjosephine.com/baking/ ... op-5-food/
On a totally unrelated note, I will direct you towards a link of several routes these two guys did across the whole of Israel skillfully avoiding Tel-Aviv:http://msctisrael.wordpress.com/map/
Variations of what these guys have cycled is certainly worth consideration and on my to do list.
Enjoy the one day free you have in Tel-Aviv!