I hate to be the 'Why not Ryzen?' guy but honestly it makes no sense to choose Intel when you're going to perform multithreaded workloads and run virtual machines (which you need as many physical cores as you can get for). At the price of the 8700k, it's honestly much more worth your time to go with a top tier Ryzen product.
The Hyper 212 wouldn't be adequate for either, especially in a rackmounted case with restricted airflow. Look into a higher tier air cooler such as the Dark Rock 4. You don't want to end up thermal throttling those hot Intel chips. And if you do still stick with the 8700k, I'd ask why are you using it on a motherboard with no overclocking support. 300W is not much more than you'll honestly end up using but the reliability of the power supply is questionable.
Here is a list that will better suit your needs:
PCPartPicker Part List
Type
Item
Price
CPU
AMD Ryzen 7 3800X 3.9 GHz 8-Core Processor
$335.98 @ Amazon
CPU Cooler
Scythe Mugen 5 Rev. B 51.17 CFM CPU Cooler
$48.99 @ Amazon
Motherboard
MSI B450 TOMAHAWK MAX ATX AM4 Motherboard
$114.99 @ Best Buy
Memory
G.Skill Aegis 32 GB (2 x 16 GB) DDR4-3000 Memory
$116.99 @ Newegg
Storage
Seagate Barracuda Compute 2 TB 3.5" 7200RPM Internal Hard Drive
$58.98 @ Newegg
Video Card
Zotac GeForce GT 710 1 GB PCIE x1 Video Card
$43.99 @ Amazon
Power Supply
EVGA BQ 600 W 80+ Bronze Certified Semi-modular ATX Power Supply
$81.87 @ Newegg
Prices include shipping, taxes, rebates, and discounts
Total
$801.79
Generated by PCPartPicker 2020-05-16 23:26 EDT-0400