This was classically the case in most large urban areas. Still true in many large cities but it isn't nearly as prevalent as it was 50+ years ago. Small independent stores have a tough time competing with chains in the modern marketplace and chains often abandon urban cores in favor of the fringe areas where land is cheaper and provisions for parking more attainable. Reinventing the walkable urban neighborhood sounds good and has been successful in some areas but I think development patterns render this as unlikely for most people or most locations.