diff --git a/api/client.go b/api/client.go
index 52c991b1e2..1735657936 100644
--- a/api/client.go
+++ b/api/client.go
@@ -705,7 +705,7 @@ func (c *Client) SetAddress(addr string) error {
 
 	parsedAddr, err := c.config.ParseAddress(addr)
 	if err != nil {
-		return errwrap.Wrapf("failed to set address: {{err}}", err)
+		return fmt.Errorf("failed to set address: %w", err)
 	}
 
 	c.addr = parsedAddr
diff --git a/changelog/27265.txt b/changelog/27265.txt
new file mode 100644
index 0000000000..926b2c7a07
--- /dev/null
+++ b/changelog/27265.txt
@@ -0,0 +1,3 @@
+```release-note:bug
+cli: Fixed an erroneous warning appearing about `-address` not being set when it is.
+```
diff --git a/command/base.go b/command/base.go
index 1c16618414..47f7be04a8 100644
--- a/command/base.go
+++ b/command/base.go
@@ -8,7 +8,6 @@ import (
 	"flag"
 	"fmt"
 	"io"
-	"io/ioutil"
 	"net/http"
 	"os"
 	"regexp"
@@ -212,7 +211,7 @@ func (c *BaseCommand) Client() (*api.Client, error) {
 	}
 
 	if c.addrWarning != "" && c.UI != nil {
-		if os.Getenv("VAULT_ADDR") == "" {
+		if os.Getenv("VAULT_ADDR") == "" && !c.flags.hadAddressFlag {
 			if !c.flagNonInteractive && isatty.IsTerminal(os.Stdin.Fd()) {
 				c.UI.Warn(wrapAtLength(c.addrWarning))
 			}
@@ -627,6 +626,10 @@ type FlagSets struct {
 	hiddens     map[string]struct{}
 	completions complete.Flags
 	ui          cli.Ui
+	// hadAddressFlag signals if the FlagSet had an -address
+	// flag set, for the purposes of warning (see also:
+	// BaseCommand::addrWarning).
+	hadAddressFlag bool
 }
 
 // NewFlagSets creates a new flag sets.
@@ -635,7 +638,7 @@ func NewFlagSets(ui cli.Ui) *FlagSets {
 
 	// Errors and usage are controlled by the CLI.
 	mainSet.Usage = func() {}
-	mainSet.SetOutput(ioutil.Discard)
+	mainSet.SetOutput(io.Discard)
 
 	return &FlagSets{
 		flagSets:    make([]*FlagSet, 0, 6),
@@ -669,6 +672,15 @@ type (
 // Parse parses the given flags, returning any errors.
 // Warnings, if any, regarding the arguments format are sent to stdout
 func (f *FlagSets) Parse(args []string, opts ...ParseOptions) error {
+	// Before parsing, check to see if we have an address flag, for the
+	// purposes of warning later. This must be done now, as the argument
+	// will be removed during parsing.
+	for _, arg := range args {
+		if strings.HasPrefix(arg, "-address") {
+			f.hadAddressFlag = true
+		}
+	}
+
 	err := f.mainSet.Parse(args)
 
 	displayFlagWarningsDisabled := false