Fiber reinforcement is a promising solution to cracking problems and improving the concrete’s structural performance. The residual strength of the cracked concrete can characterize the reinforcement efficiency. However, quantifying the residual performance of steel fiber-reinforced concrete (SFRC) is challenging. The existing methodologies provide empirical formulas for estimating the residual strength using test results of SFRC elements in which a predominant crack governs the mechanical resistance. For instance, the 0.5 mm crack width determines the minimum value considered in the RILEM standard formulas. Thus, the SFRC strength evolution at earlier cracking stages remains unknown. At the same time, such a crack approximation is irrelevant to structural cases when reinforcement bars stimulate the formation of multiple cracks, and the 0.1–0.2 mm crack typically corresponds to the yielding of the steel bars. This study describes an alternative approach for quantifying the average residual stresses in SFRC elements with multiple cracks. It hypothesizes the possibility of separating the mechanical resistance components, corresponding to tension stiffening and fiber bridging effects characteristic of SFRC elements with bar reinforcement, using standardized small-scale specimens to estimate the fiber contribution. The laboratory tests of the plain concrete and SFRC beams with bar reinforcement illustrate the proposed technique. The Rilem standard three-point bending tests and the numerical simulation of full-scale beams verify the analysis’s adequacy. The developed model is suitable for finite element simulations (employing the smeared crack model); the capability of separating the tension stiffening and fiber bridging effects ensures its versatility.