The replacement ratio is an essential factor in evaluating the bearing capacity characteristics of composite foundations. This study focuses on the bearing capacity of a pervious concrete pile with different replacement ratios. The axial force, skin friction, and settlement were evaluated using a model test to assess the performance of the pervious concrete pile composite foundation. When the replacement ratio was reduced from 9.26% to 2.32%, the characteristic bearing capacity value was only 14%. Therefore, it may be unreasonable to use the settlement ratio method to evaluate this composite foundation's bearing capacity in a model test. Appropriate loading can significantly improve the bearing capacity of a pervious concrete pile composite foundation with a low replacement ratio. The pile–soil stress ratio exhibited different decreasing ranges in the later loading stage. As the load increased, the axial force of the pervious concrete piles was small and nonobvious, and the average side friction resistance of the piles in the foundation with a lower replacement ratio slowly increased.
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