Civil engineering and architectural facilities can be characterized as an asset to produce income. In this study, a discounted cash flow method (DCF method) considering a seismic risk is proposed, and a methodology on how to evaluate a discounted present value of the asset pricing is presented with a conditional exceeding probability function of the asset pricing. In the DCF method, an estimation of income is based on a random walk model where as the seismic risk is associated with structural damages is based on a probabilistic model, in which losses by one earthquake event during service time are considered. Finally, the usefulness of the proposed method is demonstrated through a numerical example of a commercial building.