I think it all depends what you do with the IP. Considering reconnaissance here, we could get the ISP of the IP, find contact information of the ISP. You could always run a few nmap scans to identify/enumerate services on the host. You could also attempt banner grabbing depending on what ports you find open on the machine itself. That's just to name a few though.
eCPPT (Silver/Gold), GSEC, GCIH, OSCP, OSWP