The increasing demand for shelters, depleting natural resources, concern for plastic waste, and rising awareness for the environment have attracted the contemporary world towards the recycling of waste plastics for the development of an alternative and sustainable building construction material. The plastics suffer due to their poor strength which can be successfully overcome by the reinforcement of natural fibers. The work aimed to develop and investigate the properties of natural fiber-reinforced composites for structural applications such as floor tiles and pavements. The composites were developed by utilizing three different types of waste plastics, namely, low-density polyethylene, high-density polyethylene, and polypropylene with the reinforcement of coconut (cocos nucifera) and Tossa jute (corchorus olitorius) fibers. The evaluation of the density, water absorption, compressive strength, and flexural strength was performed. Moreover, three-body abrasive wear performance was investigated under the conditions of different loads and sliding speeds. The wear mechanism was explored by the morphological analyses of the fractured and worn-out surfaces. The composite HDPE80C20 showed a maximum density of 1.603 g/cm3 and minimum percentage of water absorption to 0.2022. Moreover, the composite attained a maximum compressive and flexural strength of 40.10 and 10.04 (MPa), respectively. The ranges for abrasive wear were found to be 0.002375-0.20015 (cm3) and 0.01987-0.39593 (cm3) under the considered conditions of loads and sliding speeds, respectively. The comparative analysis of the properties suggested the reinforcement of 20 wt% of jute fiber with 80 wt% of high-density polyethylene for the development of composites for structural applications. The study highlighted the potential of waste plastics and natural fibers as value-added products for building construction with relevancy from socio-eco and environmental points of view.