It seems that Google is really experimenting with their local business ads to better understand the Local Search user and how they utilise search.

In the past few weeks, I've seen full addresses appear for businesses in the sponsored listings (PPC) section of the SERPs (as you can see in this example):



I've also seen Google playing with the placement of their Local Business OneBox by moving it within the search results and not just at the top as this screen shot clearly shows:



It is very clear that the local search market is starting to heat up.  I predict that local search will be the fastest growing segment of online marketing this year and all the major search engines are investing large sums instrengthening their services, improving search relevance and with mobile/GPS products. 

If your target market is limited to a geographical area of 25 miles or less, then you should also be considering your Local Search options.