UPDATED - SQL: Parsename Replace RTRIM LTRIM
Attached in the [DOWNLOAD SECTION] is a script titled "FourPartStringParse_v0.01.sql" that will parse out an address. It has limitations though. See the file comments for details. Thanks to @MarlonRibunal for the help!
I tried this route, but the problem with this script is that it counts every space. So if there happens to be a double space between two words then it gets added to the total count.
DECLARE @String NVARCHAR(100)
SET @String = 'How many words are there in this big string?'
SELECT @String,(1 + LEN(@String) - LEN(REPLACE(@String, ' ', ''))) AS WordCount as you can see in the illustration below.

The following method worked better, but I still had some issues with it as I mentioned before.
Posted by Samson Loo

