Nisbet attended public school in Providence and then attended the Rhode Island School of Design. He taught at Brown University for two years and then won the Director's Post Graduate scholarship prize. He then studied at the Art Students League in New York with Frank Vincent duMond and then studied in England with Henry B. Snell.
In 1908 he was elected to the Salmagundi Club and to the National Arts Club, and 1909-l0 he served as president of the Art Students League. In 19l0 he married Marguerite Haile-dePourtales.
By 19l3 the Arlington Galleries in New York was handling his work. Later Milch Gallery was his dealer.
Nisbet soon settled in Kent, Conn. where he purchased a farm and lived year round, painting realistic unpeopled landscapes of the countryside around his home. These works, often dramatic, treated outdoor themes featuring the seasons, weather effects, streams, brooks, and individual trees in the landscape. Nisbet was one of the founders and president of the Kent Art Association.
From the NAD, Nisbit won the Hallgarten Prize in 19l5; the Palmer Marine Prize in 193l for "Chatham Shoals" and the Ranger Fund Purchase Prize in 1923 for "The Hurrying River" and in 1953 for "Morning Light." In 1927 he won the National Arts Club prize and medal for "The Hills of Home."
In addition to painting, Nisbet was also a graphic artist working in etching and wood engraving. An exhibtion of his etchings and drypoints was held at the Smithsonnian in 193l.
In 1932 he won the Kate W. Arms Memorial Prize for a drypoint "Through the Window" from the Society of American Etchers. The Metropolitan Museum of Art and the New York Public Library acquired a set of his prints.
In addition to being an artist, Nisbet was an expert rifleman, winning awards at national rifle matches in 1928 and 1932. Nisbet also was an amateur mineralogist, with a substantial collection of gems. He also organized a civil defense plan for the area around Kent.