In my neighborhood, there are a lot of house bought as tear downs, but I never understood the realty listing offering a house as tear down, lot value, etc. Yes, my lot accounts for probably 75% of the value of my house, but in order to maximize your return for selling, I think the number one objective would be to get as many possible buyers looking at the house in the first few weeks as possible. I know sometimes it can't be helped, maybe a house is in such disrepair or there is some other hopefully very important reason to state that the house itself will not be shown, but otherwise, I'd treat your house as someone else's potential dream home, and do all that I could within reason to stage and make that home appealing.
Your best bet is to attract multiple people who can see themselves living in the house, that creates the hook to maximize your selling price. Even if that plan doesn't pan out, you'll be in a better position to extract top dollar for those looking at the lot only. I guess there is a small chance that a high asking price will scare away those looking for a tear down though.
There are four houses in a couple block radius of me that are old, small, and each had been on the market for more than 6 months. One changed to one of the high power sellers realtors in this area (I see her name on many of the 5-10+million homes), dropped the price to something closer to lot value, and sold quickly after doing that. Two others languished and were scooped up by two different friends who lived next door to each, one to flip and the other to expand their yard. The third, the one closest to my house, is _still_ on the market, though at least they've dropped some. You could end up like that last one, but why assume that from the beginning and limit yourself.