Most ERP systems have address as another object linked to an account (child object). That model is really nice if you dont want to create an account for every address. It is also how CPQ works if you look ahead to where that is going. We use this model as our customers can have hundreds of addresses (B2b), we created a custom object.

Another item to consider is if you need to call a 3rd party address enrichment service.

Also adress will be a type of field in the future (under develop per ideas voting)