Although performance based assessment procedures are mainly developed for reinforced concrete and steel buildings, URM (Unreinforced Masonry) buildings occupy significant portion of buildings in earthquake prone areas of the world as well as in IRAN. Variability of material properties, non-engineered nature of the construction and difficulties in structural analysis of masonry walls make analysis of URM buildings challenging. Despite sophisticated finite element models satisfy the modeling requirements, extensive experimental data for definition of material behavior and high computational resources are needed. Recently, nonlinear equivalent frame models which are developed assigning lumped plastic hinges to isotropic and homogenous equivalent frame elements are used for nonlinear modeling of URM buildings. The equivalent frame models are not novel for the analysis of masonry structures, but the actual potentialities have not yet been completely studied, particularly for non-linear applications. In the present paper an effective tool for the non-linear static analysis of 2D masonry walls is presented. The work presented in this study is about performance assessment of unreinforced brick masonry buildings through nonlinear equivalent frame modeling technique. Reliability of the proposed models is tested with a reversed cyclic experiment conducted on a full scale, two-story URM building at the University of Pavia. The pushover curves were found to provide good agreement with the experimental backbone curves. Furthermore, the results of analysis show that EFM (Equivalent Frame Model) with Dolce RO (rigid offset zone) and shell element have good agreement with finite element software and experimental results.