Yes, there was one near my house but it closed. I rented a Prince of Persia game from there once but then it closed down as well as the other rental stores close to me.
The closest rental store to me now is 10km away. I've went there once and they had an awesome selection. Too bad they won't open near me. I'm not surprised though.
It almost makes me sad to know my daughter will never know the joy of me and her mother taking her to a video store like Blockbuster and going through rows of movies and games trying to decide what to get. Before I knew what the internet was, i chose what games to play by going to Blockbuster and trying them out. Of course now we have demos we can download, but its not the same at all.