I think that 'fronts', in this context, is related to frontage, (
http://en.wikipedia.org/wiki/Frontage) the length of the property along a street and would only be used in this way when speaking about a building or property. In the northeast of America I do not see this often, but I would expect to see it in real estate listings (listings of properties for sale).
The verb 'faces' can be used for anything that could be oriented in a specific direction.
For example, I would say "He faces the computer.", "The sign faces east.", and "The room faces the garden", but I would not substitute 'fronts' in any of those places.
The third sentence has the added meaning of "overlooking"; when I hear that sentence, I expect that I can look out a window in that room and see the road.