We have what are called “stroads” in North America, which are very much what you’re describing.

I remember when I was a kid, they took Pershing Road on the Stickney-Berwyn (Illinois) border and changed the commercial parking from diagonal to parallel and increased the traffic flow from two lanes to four. I have no firm data, but I’m pretty sure that this increased accidents on the street as well as effectively killed the Stickney CBD on Pershing Road (I would guess at least a third of the storefronts are currently vacant and that’s ignoring buildings that were demolished and never replaced). And I’m not entirely sure what traffic benefit came out of increasing the flow along the street as it’s not really a good connector of anything in that stretch.