As a cop myself, I would've waited to see what this dude would do---write a summons? display a gun? flash some handcuffs? Something as evidence to nail him on.
Then I would ensure he sees me talking on a cell phone checking with communications to see if a cop just marked out on a stop at that location. Just to see what this guy would do.
Then when asking for my license, I'd show him my FREKIN BADGE AND MY HANDCUFFS AND TURN THE TABLES!!