The former race shop compound now houses the Richard Petty Museum and Petty's Garage, a high-performance speed and restoration shop.
Richard Petty is NASCAR's all-time leader in premier series wins with 200 victories and is one of only two drivers to win seven championships.
According to information from the team, the fire was contained to a portion of the building and was quickly under control by local fire responders.
TV station WFMY reported on its web site that a call came in at approximately 12:40 p.m. ET.
No injuries were reported at the facility, and no cause of the fire was provided.