Dynamic characterization and Structural Health Monitoring (SHM) are crucial tools, of increasing demand, for reliable operation and predictive maintenance of large infrastructures, as the percentage of critically ageing infrastructures is growing steadily. We present a minimally invasive and synchronous fiber optic monitoring system for SHM, based on Phase-Optical Time-Domain Reflectometry (Phase-OTDR), and we assess its applicability and performance on a modular Bailey-type bridge of 1 : 2.5 scale. Phase-OTDR systems, along with other fiberoptic-distributed techniques have proven their capabilities in long-range SHM applications, although their complexity and high cost limits drastically their applicability and SHM market penetration. Here, we propose the use of a prototype Phase-OTDR system, featuring customized interrogation instrumentation with a balanced trade-off between performance and cost. Its experimental validation is achieved by comparison with well-established commercial monitoring systems, such as Ground-Based Radar Interferometer (GBRI), laser tracker, and multipoint optical Fiber Bragg Gratings (FBGs), in various excitation conditions and structure-damage scenarios, easily implementable in the model bridge. Finite-element modelling (FEM) and simulations were employed to study the bridge behaviour and provide a reference and comparison framework for the experimental characterization. The Phase-OTDR system successfully detected the structural behaviour in an efficient distributed manner, demonstrating comparable performance to commercial point sensor systems, thus demonstrating its application potential.