If you're using a NFS, "test" is a better solution, because you can add a timeout to it, in case your NFS is down:
time timeout 3 test -f
/nfs/my_nfs_is_currently_down
real 0m3.004s <<== timeout is taken into account
user 0m0.001s
sys 0m0.004s
echo $?
124 <= 124 means the timeout has been reached
A "[ -e my_file ]" construct will freeze until the NFS is functional again:
if [ -e /nfs/my_nfs_is_currently_down ]; then echo "ok" else echo "ko" ; fi
<no answer from the system, my session is "frozen">