The venue address comes with a fixed structure that looks like the following, given all data is available.

On the single event page (both classic and block editor) and on the venue page (Pro feature):
Venue name
Street address with number
City, Province/State Zip Country

On List view:
Venue name Street address with number, City, Province/State

On List view and Photo view:
Venue name Street address with number, City

There are languages, however, where the addresses are formatted differently. Modifying the address structure can be done with a template override. For that you will need to find this file:

/the-events-calendar/src/views/modules/address.php

Make a copy of that file in the following folder:

wp-content/themes/[your-child-theme]/tribe-events/modules/address.php

Once that is done open that file and make the needed adjustments.

The following example snippet includes adjustments for the German formatting of the address structure, which looks like this:

Venue name
Street with number
Zip City
Country

<?php
/**
 * Address Module Template
 * 
 * This is a template override for the venue meta data.
 * Venue data is formatted for Germany.
 *
 * Save this template in your own theme by creating a file at:
 * [your-theme]/tribe-events/modules/address.php
 *
 * This file overrides this template:
 * the-events-calendar/src/views/modules/address.php
 *
 * Plugins required: The Events Calendar
 * Author: Andras Guseo
 * Last updated: January 18, 2023
 * @version 6.0.0
 *
 */

if ( ! defined( 'ABSPATH' ) ) {
	die( '-1' );
}

$venue_id = get_the_ID();

$full_region = tribe_get_full_region( $venue_id );

?>
<span class="tribe-address">

<?php
// This location's street address.
if ( tribe_get_address( $venue_id ) ) : ?>
<span class="tribe-street-address"><?php echo tribe_get_address( $venue_id ); ?></span>
	<?php if ( ! tribe_is_venue() ) : ?>
		<br>
	<?php endif; ?>
<?php endif; ?>

<?php
// This location's postal code.
if ( tribe_get_zip( $venue_id ) ) : ?>
	<?php 
  // If it is a venue and there is already a street address, then add a line break.
  if ( tribe_is_venue() && tribe_get_address( $venue_id ) ) : 
  ?>
		<br>
	<?php endif; ?>
		<span class="tribe-postal-code"><?php echo tribe_get_zip( $venue_id ); ?></span>
<?php endif; ?>

<?php
// This locations's city.
if ( tribe_get_city( $venue_id ) ) : ?>
	<span class="tribe-locality"><?php echo tribe_get_city( $venue_id ); ?></span>
<?php endif; ?>

<?php
// This location's country.
if ( tribe_get_country( $venue_id ) ) : ?>
	<?php if ( tribe_is_venue() && tribe_get_address( $venue_id ) ) : ?>
		<br>
	<?php else: ?>
		<span class="tribe-delimiter">,</span>
	<?php endif; ?>

	<?php
	// This location's abbreviated region. Full region name in the element title.
	if ( tribe_get_region( $venue_id ) ) : ?>
		<abbr class="tribe-region tribe-events-abbr" title="<?php esc_attr_e( $full_region ); ?>"><?php echo tribe_get_region( $venue_id ); ?></abbr><span class="tribe-delimiter">,</span>
	<?php endif; ?>

	<span class="tribe-country-name"><?php echo tribe_get_country( $venue_id ); ?></span>
<?php endif; ?>
</span>

https://gist.github.com/andrasguseo/988d4402c3316d5b17decab382abd901