Police said officers were called to Kingsway after reports a group were fighting with baseball bats.
Officers attended and a car was stopped in nearby Queensway.
Two baseball bats and a kitchen knife were recovered during a search.
Two men, aged 35 and 36, were arrested on suspicion of affray and possessing an offensive weapon. The 35-year-old was also arrested on suspicion of possessing a class A drug after officers recovered a quantity of white powder.
A 23-year-old man was later arrested on suspicion of affray in connection with the incident, which happened on Sunday, January 16, at about 12.50pm.
Detective Sergeant Matt Dumbrell, from Nottinghamshire Police, said: “We are acutely aware of the devastating consequences carrying weapons can have, especially when a fight and violence has been reported.
“It can also be very distressing for members of the public who have seen this occur and we want to reassure them of the robust action we will take when incidents like this are reported to us.
“We believe those thought to be involved are in some way known to each other and there is no wider risk to the community.
“Three people remain in custody whilewe question them about the incident and our enquiries are ongoing.”
Anyone who witnessed the incident or has dashcam footage or further information is asked to call Nottinghamshire Police on 101, quoting incident 309 of January 16, 2022.