The person died in hospital after being attacked on Wollaton Road, near Crown Island, at approximately 20:15 GMT.
Nottinghamshire Police said a male, 20, had been arrested on suspicion of murder, while two other men, 32 and 26, were detained on suspicion of helping an offender.
The force has called for witnesses to come forward.
The victims’ families have been notified, and they are currently receiving assistance from specially trained officers, according to the fNottingham-Forest-head-coach-Nuno-Espirito-Santo-agai
Roads around Crown Island were closed on Monday evening but have since reopened; however, a police cordon remains in place as investigations continue.
Det Ch Insp Matt Croome of the East Midlands Special Operations Unit said: “Our thoughts are with the man’s family.”
“This is a horrible situation, and we are working hard to determine what happened.
“To that end, we encourage anyone with additional information to come forward.”
He requested neighbors and motorists who had CCTV, doorbell cameras, or dashcam footage from the area to contact the police.
