I recall that Walkscore used to have something like this, and then it went away, and then it showed up on some other housing site... I was always surprised the type of feature didn't get more popular.
In terms of new features, there is a tricky problem of how to define things like "near a grocery store, the large kind, not that one tiny mini-mart". This brings in several overlapping challenges: How to get business locations and categorize them, how to allow the user to tweak that categorization or result, and how to efficiently turn a union of those the set of valid destinations into a combined region.