"This address is wrong."
Well, in chinese the meaning of the word depends on its place in the sentence
错的地址 -- wrong adress 地址是错的 -- the adress is a wrong one
So, if 错的 is in front of other noun it is the adjective ''wrong''. But if it's on itself it is the noun ''wrong one''. Therefore the best way (the closest one grammaricly) to translate the sentence 这个地址是错的 is ''This adress is a wrong one''