Select objects have a __toString() method in Zend Framework.
From the Zend Framework manual:
$select = $db->select()
->from('products');
$sql = $select->__toString();
echo "$sql\n";
// The output is the string:
// SELECT * FROM "products"
An alternative solution would be to use the Zend_Db_Profiler. i.e.
$db->getProfiler()->setEnabled(true);
// your code
$this->update($up_value,'customer_id ='.$userid.' and address_id <> '.$data['address_Id']);
Zend_Debug::dump($db->getProfiler()->getLastQueryProfile()->getQuery());
Zend_Debug::dump($db->getProfiler()->getLastQueryProfile()->getQueryParams());
$db->getProfiler()->setEnabled(false);