How many players do you think could fit on a server?

Are there any specific limits? Lets say you have a dedicated server with an I7-4790k and 32gb of ram, how many would be safe to throw on such a thing? I am contemplating an idea for a game where multiplayer is essentially only a few servers, so there would be no server browser. You would just click a button and join. I know it will be a rough estimate, but I have no real idea currently, probably 100 players max, but i would like to throw more in than that.

There’s more to consider–for example the multiplayer mod for Just Cause 3 had like 1200 people on a server, but there was no character customization (meaning you don’t use all that much more memory for the different gear) and they used very few variables which meant that what was going on was not very accurate and mostly relied on the client, so what one person does in a game isn’t necessarily the same as what other people see them doing.