A possible solution if you need it all in one row
SELECT t.id, t.value, prev_id, p.value prev_value, next_id, n.value next_value
FROM
(
SELECT t.id, t.value,
(
SELECT id
FROM table1
WHERE id < t.id
ORDER BY id DESC
LIMIT 1
) prev_id,
(
SELECT id
FROM table1
WHERE id > t.id
ORDER BY id
LIMIT 1
) next_id
FROM table1 t
WHERE t.id = 3
) t LEFT JOIN table1 p
ON t.prev_id = p.id LEFT JOIN table1 n
ON t.next_id = n.id
Sample output:
| ID | VALUE | PREV_ID | PREV_VALUE | NEXT_ID | NEXT_VALUE |
|----|-------|---------|------------|---------|------------|
| 3 | 200 | 2 | 150 | 4 | 250 |
Here is SQLFiddle demo