Yes, but in most cases I don't think these have anything like the same overall impact. There are lots of instances of small markets or small concerts or whatever in parking lots, parks, etc, but I can't think of any that similarly seem to impact on the same level.
Plus, many (not all) events like this are very much something the local people enjoy themselves, and when neighbourhoods find events like this really problematic, they tend to find their complaints are taken seriously.
The closest thing that seems somewhat similar to me are parades, and having once been in labour trying to get to the hospital while being blocked by a Christmas parade I feel very aware that they can be a real inconvenience - but even parades don't in my experience cause as much disruption for everyone as marathons and bike races in cities. The latter just seem so very spread out, and take so long, and block traffic across so many streets.
And maybe the kicker is, unlike smaller local events, it never really seems like complaints are taken seriously or really even noticed much. It's like the town or city makes a deal with the race organizers and sponsors, and residents don't matter, they are expected to put up with it even though few are involved and many of the participants aren't local.
Where I am now, large concerts no longer seem to be common in city venues that aren't really set up for the,. There was a period, especially in the 90s and early 2000s when there were a lot of them, but they were pretty impractical in terms of traffic and also infrastructure issues. So the trend now seems to have them in places like exhibition grounds. I think this reflects a lot of the same issues with these races.