A person driving by the adult entertainment club at about 6:30 a.m. Sunday called 911 to report the fire.
Witnesses said flames and smoke could be seen shooting 50 feet into the air.
It took firefighters two hours to get the blaze under control. Part of the structure was still smoldering after the fire was extinguished.
Six fire departments from Wake and Johnston counties responded.
A firefighter suffered a slight burn on his foot. He was treated by Emergency Medical Services at the scene and is doing fine.
Three investigators from the Wake County Fire Marshal Office are sifting through the ashes to determine how the fire started.
The owner of the club said he does have insurance and plans to rebuild. He also owns six other clubs and said displaced employees will likely be transferred to other clubs.
The Pure Gold Club, formerly known as Crazy Horse, was established in 1998.