Seismic resiliency of new buildings has improved over the years due to better seismic codes and design practices. However, there is still large number of vulnerable and seismically deficient buildings. It is not economically feasible to retrofit and upgrade all vulnerable buildings, thus there is a need for rapid screening tool. Many factors contribute to the damageability of buildings; this makes seismic evaluation a complex multi-criteria decision making problem. Many of these factors are noncommensurable and involve subjectivity in evaluation that highlights the use of fuzzy-based method. In this paper, a risk-based framework earlier proposed by Tesfamariam and Saatcioglu (2008a) is extended using Fuzzy-TOPSIS method and applied to develop an evaluation and ranking scheme for steel buildings. The ranking is based on damageability that can help decision makers interpret the results and take appropriate decision actions. Finally, the application of conceptual model is demonstrated through a case study of 1994 Northridge earthquake data on seismic damage of steel buildings.