It can run Xpenology DSM 6.1 or even 6.2, so you will have the best NAS software, and if you max the memory to 4GB you can use DSM docker GUI to easy run several docker images with pi-hole, nextcloud, wireguard etc.
It is pretty much a Raspberry PI 4 but with all the x86 compatibility and SATA ports. You won't be able run VMs without VT-x, but it is too slow for it anyway. You can use pretty much weakest PicoPSU to power it (65W). Get smallest possible ITX case that can handle two drives and a fan, and put it in the closet. It will work for another decade.