In one short answer: yes. In fact, this is where Linux shines. But, a terminal may not even be needed. You could simply hook stuff up and be off...depending on what you're setting yourself as goal.
In my experience? Okay, well, I run a private network, there's a print server, I can print from anywhere in the house, there's a webserver where central stuff/documents are kept, but...ther's also an Icecast server, to listen to music. The sky, and the modem
are litterally the limit!
Anything you need to know, here's the place!