To investigate the flexural capacity of precast piers with demountable steel-concrete composite connection, based on the model test, the refined finite element model was developed. The flexural capacities were compared between cast-in-place (CIP) piers and precast piers with different parameters including the thickness of base steel plate and notched perfobond connector, material strength, open-hole size of base steel plate, height of jacket, and axial compression ratio. The results show that the flexural capacity of concrete precast piers with rationally designed connections should not be lower than that of CIP piers. The cracking load and flexural moment-axial compression ratio curve can be evaluated as CIP piers. The ultimate flexural capacity is positively correlated with the base steel plate thickness and jacket height. The notched perfobond connector and the stiffeners set on the base steel plate can effectively improve the flexural capacity and optimize the shape of yielding line of base steel plate. The steel strength should be greater than 300 MPa in order to ensure that the steel connection yields later than the longitudinal reinforcement. Finally, the simplified model of base steel plate and the influence mechanism of the steel plate are discussed. This paper provides reference for the design of the proposed piers and other similar connections.