You could just use the old bog standard PHP function file_exists()
if I understand you right:
$uri = 'public://images/an-image.jpg';
if (file_exists($uri)) {
// Do something
}
This also works for normal (absolute) paths as well, e.g.:
$path = '/var/www/drupal/sites/default/files/images/an-image.jpg';
if (file_exists($path)) {
// Do something
}