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I have a Raleigh F500 Police bike. The frame is 7005 aluminum and in very good condition. Is this frame worth using to build a bike with new components?
 

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Only you can determine if it is worth it. Were you to try and sell it, you probably won't get back out of it what you put into it if you buy all new parts.
 

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There's nothing remarkable about that frame, and it's likely old standards for everything: QR rear axle, straight steerer head tube, and caliper brakes. Recommend not investing in new parts for it.
 

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There's nothing remarkable about that frame, and it's likely old standards for everything: QR rear axle, straight steerer head tube, and caliper brakes. Recommend not investing in new parts for it.
+1

These "entry level" mountain bikes that are mostly used for urban assault riding is best left in its original condition and run in that particular environment.

You can dabble with riding trails with it. But when you feel like you want to get more serious, then you need to get something that was made for the specific duties of the specific terrain and type of riding.
 
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