Wade, who is believed to be suffering from dementia or some other cognitive impairment, was last seen walking north on Legion Road around 6:45 a.m. Tuesday.
Authorities did not say why they canceled the alert or what Wade's condition was.
Developed in 2007, Silver Alert is a system to quickly notify the public about missing endangered adults who suffer from dementia or other cognitive impairments, such as Alzheimer's disease.
It also allows caregivers and nursing homes to report a person missing. In the past, only a family member could report an adult missing.