How do I get the actual ip address of a printer in OSX Yosemite
Use http://localhost:631/printers/ to see the list of printers available. The page shows both printer model and its IP/name under the Printers tab.
To enable the cups page, run cupsctl WebInterface=yes in terminal.

If it does not directly show an IP address, click on the printer, where usually there is a connection entry like in this example:



Afterwards run cupsctl WebInterface=no in the terminal.

If the above still does not resolve to an IP-address, then try dns-sd as explained in How can I list the IP addresses of all the AirPrint printers on a network?; search for "_ipp._tcp" in that post.

For that to work you MUST be on the same network as the printer: it does not work if you are on a different network (for instance when on the road and the discovered printer is at home).

Example of a printer not showing the IP address: