Disaster risk assessment at the administrative division level has limitations in evaluating the risk of fire and explosion in built-up urban regeneration areas. To evaluate the risk at a more accurate level, this study proposes nine indicators for a small grid unit risk assessment on the fire and explosion in urban regeneration areas. The disaster risk score for each 10-meter grid unit is
calculated by four factors. Each factor is determined by a weighted sum of several indicator scores, and the weight of the indicators is determined by the Analytic Hierarchy Process (AHP). Areas are classified into 5 grades according to the fire and explosion risk score, and in order to verify the feasibility of the assessment framework, the disaster response capabilities of safe(grade 4 and 5) and hazardous (grade 1 and 2) areas are analyzed by conducting a field survey on two areas. The findings of the field survey are compared with the risk assessment. As a result, the proposed precise risk assessment method is verified. The risk of fire and explosion in urban regeneration areas is precisely analyzed with proposed indicators.