I agree, I would have raised.

He's bet out representing the hand. You don't know where you are at all and a raise would certainly give you a good idea.

You said you called and also called the turn so you if you are willing to do that, why not raise here with that 500?

It wouldn't have cost you any more than you bet because a few things would happen. He could fold and you take it down right now. He could cold call meaning he could be chasing himself. He could re-raise and you would know exactly where you were and fold off.

If he did just call your raise with a chasing hand, there is every chance he would check the turn and you'd see the river for free. If he called your raise and bet the turn, you're probably beat so it's a fold.

You had position - so make use of it when you can