In XPath 1.0, use:
concat(/Foo/Baz,
substring('not-found', 1 div not(/Foo/Baz)))
If you want to handle the posible empty Baz element, use:
concat(/Foo/Baz,
substring('not-found', 1 div not(/Foo/Baz[node()])))
With this input:
Result: not-found string data type.