The most common and most likely answer to this crossword clue is the 6 letter word AROUND
I've seen this crossword clue in Financial Times
A
R
O
U
N
D
More clues leading to the result AROUND
- Some ships run here, bypassing Gulf nearby
- Somewhere near a stadium, German disappears
- A number of holes in the vicinity
- Approximately three minutes in the ring
- See 9ac.
- More or less in a circle
- Roughly where some ships run, bypassing Gulf
- A shout in the opposite direction
- A drink for you and your companions in the vicinity
- A series of calls here and there
Buddy explains!

The straight part
We know that "nearby" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case nearby = around.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does AROUND mean?
AROUND adjective- (with the verb "to be") Present in the vicinity.
- (with the verb "to be") Alive; existing.
- So as to form a circle or trace a circular path, or approximation thereof.
- So as to surround or be near.
- Nearly; approximately; about.
- From place to place.
- From one state or condition to an opposite or very different one; with a metaphorical change in direction; bringing about awareness or agreement.
- (with turn, spin etc.) So as to partially or completely rotate; so as to face in the opposite direction.
- Used with verbs to indicate repeated or continuous action, or in numerous locations or with numerous people.
- Used with certain verbs to suggest unproductive activity.
- Defining a circle or closed curve containing a thing.
- (of abstract things) Centred upon; surrounding.
- Following the perimeter of a specified area and returning to the starting point.
- Following a path which curves near an object, with the object on the inside of the curve.
- Near; in the vicinity of.
- At or to various places within.