Return all values including NULL

Try using this instead:

SELECT t1.IPAddress,
t1.DNSRecord,
t2.SerialNo,
t2.IPAddress
FROM tableA t1
FULL OUTER JOIN tableB t2 ON t1.IPAddress = t2.NetworkAddress
WHERE
IPAddress LIKE '%' +@IPAddress + '%'
AND SerialNo LIKE '%' +@SerialNo +'%'

See: OUTER JOIN

Cheers.

Just add a condition for the case of SerialNo is NULL. With your actual condition, this case is rejected from selection

SELECT t1.IPAddress,
t1.DNSRecord,
t2.SerialNo,
t2.IPAddress
FROM tableA t1
JOIN tableB t2 ON t1.IPAddress = t2.NetworkAddress
WHERE
IPAddress LIKE '%' +@IPAddress + '%'
AND ( SerialNo LIKE '%' +@SerialNo +'%' OR SerialNo is NULL)

Try this

SELECT t1.IPAddress,
t1.DNSRecord,
t2.SerialNo,
t2.IPAddress
FROM tableA t1
JOIN tableB t2 ON t1.IPAddress = t2.NetworkAddress
WHERE
IPAddress LIKE '%' +@IPAddress + '%' 
AND (SerialNo LIKE '%' +@SerialNo +'%' OR SerialNo IS NULL)

One alternative:

SELECT t1.IPAddress,
t1.DNSRecord,
t2.SerialNo,
t2.IPAddress
FROM tableA t1
JOIN tableB t2 ON t1.IPAddress = t2.NetworkAddress
WHERE
IPAddress LIKE '%' +@IPAddress + '%'
AND coalesce(SerialNo, @SerialNo) LIKE '%' +@SerialNo +'%'