Structural Health Assessment (SHA) is a paramount importance in many different professions and industries, such as civil and aviation, where a minute detail is examined. In order to evaluate the state and performance of structure overtime modern sensors, health assessing tools and gadgets, data procuring devices, storage clouds and many more are used. Structure deterioration or collapse can have severe effects, such as reduced strength of structure, safety hazards, revenue losses, and environmental and social interruptions. To study the importance of Structural Health Assessment (SHA) thoroughly in this research paper, an old structure situated at RV college of Engineering, Bengaluru, INDIA was considered for the study. Using health assessment instruments, the structure's safety is evaluated. Initially, a visual inspection was carried out to check the condition of the structure and the onsite dimension of the tank was measured for modelling. The structure was deteriorated in which one of the columns has experienced a crack. The water tank was tested with few Non-destructive tests to check the details of material, composition, health condition. With these details obtained, the structure was seismically modelled using an analysis software ETABS and checked its safety for the measured parameters by providing load acting on the structure in the onsite condition. The results showed that the structure was not safe for zone 2 seismic analysis and all the 4 columns failed the safety check for the available dimension of column. However, the increase in the dimension of column more than 25% of original dimension showed a good response in which all the column were capable of taking the load without any failure.